Strategy Sells $104.7M Worth of Bitcoin to Support Preferred Stock

Strategy, a company known for its significant Bitcoin holdings, has sold $104.7 million worth of Bitcoin to support its preferred stock and dividend payments. According to an SEC filing, Strategy sold 1,638 BTC between July 27 and August 2 at an average price of $63,957 per coin.

The proceeds from the sale were redirected toward paying dividends on its STRC perpetual preferred stock and repurchasing shares. As a result, Strategy's U.S. dollar reserve increased to approximately $4 billion, with $250 million added during this period.

This move follows Strategy's revised capital plan introduced in June, which allows for Bitcoin sales to support preferred-stock dividends, debt obligations, approved security repurchases, and the company's dollar reserve. The company has been prioritizing STRC support over new Bitcoin purchases, with its Bitcoin holdings now standing at 842,138 BTC.