Strategy Inc. Sells $333.7M in Stock, No New Bitcoin Purchases

Michael Saylor's Strategy Inc. has continued its Bitcoin accumulation strategy in reverse by selling $333.7 million of common stock over the past week to fund the repurchase of preferred shares and a cash reserve.

The company sold no Bitcoin during this period, which ended on August 16. This marks the second time since mid-June that Strategy has not purchased any Bitcoin.

Saylor's strategy is aimed at accumulating more Bitcoins by using cash generated from stock sales to buy the cryptocurrency. However, in this recent week, the company used the funds for other purposes instead.