Strategy Pauses Bitcoin Sales After Two Weeks, Buys Back STRC Shares

Strategy, a Bitcoin treasury firm led by Michael Saylor, has paused its sales of BTC after two consecutive weeks of selling some of its holdings. According to an SEC filing, Strategy sold nearly 3.46 million MSTR shares last week under its at-the-market (ATM) program, worth $333.7 million.

The firm used the net proceeds from the MSTR stock sales to buy back STRC shares and fund dividend payments for STRC stock. It also increased its USD reserve by $149.1 million to $4.8 billion.

Strategy's CEO, Phong Le, recently stated that they plan to resume buying BTC for the rest of the year and remain a net buyer despite the sales made this year. The company has sold 6,948 BTC but also bought 167,947 BTC during the same period.