Strategy Inc. Sells More Bitcoin and Stock to Bolster Cash Reserves
Michael Saylor's Strategy Inc. is revising its capital structure by selling more Bitcoin and common shares to bolster its cash reserve.
The company, which owns about $58 billion in Bitcoin, sold $108.6 million of the digital asset in the seven days ended Aug. 9.
Along with this sale, Strategy Inc. also offloaded 6.6 million common shares worth around $653 million and repurchased $108.6 million of its Stretch (STRC) preferred shares.