Strategy Passes on Bitcoin Buys for Fifth Straight Week
Strategy's latest moves in the financial market have been closely watched by investors and analysts. The company has filed an 8-K, confirming it sold 5.43 million MSTR shares between July 20 and July 26. In addition to this sale, Strategy also repurchased 288,930 shares of its STRC preferred stock for $25 million.
The company's Bitcoin holdings remain unchanged, with a position of 843,775 BTC purchased at an average price of $75,476 per coin. The $3.75 billion USD reserve now covers approximately 2.1 years of preferred stock dividends and debt interest.
Executive Chairman Michael Saylor noted that the company has been prioritizing building its cash cushion over accumulating Bitcoin. This is evident in the fact that Strategy's reserve needs to cover around $1.76 billion in annual preferred dividends and debt interest.