Strategy Sells $100M+ in Bitcoins Below Cost to Meet Dividend Obligations

Strategy, the publicly traded company founded by Michael Saylor, has broken its long-held promise of never selling Bitcoin. The company has recorded over $102 million in realized losses from selling Bitcoins below their average purchase price.

The latest sale involved 1,690 Bitcoins sold for $108.6 million at an average price of $64,262 per unit. This is significantly lower than the estimated cost basis of $75,400 per Bitcoin.

The sales program aims to honor $1.2 billion in annual dividend obligations on STRC preferred shares. The company's cash coverage has collapsed from seven years to fourteen months due to a significant increase in recurring financial charges.