Strategy Sells $105M in Bitcoin Amid Rising Dollar Reserve

Strategy, a Bitcoin treasury firm, has sold $104.7 million worth of BTC in the week to August 2, leaving it with 842,138 coins. This move marks a significant reduction from its peak holdings of 847,363 BTC in June. The sale price averaged $63,957 per coin, net of fees.

The company used half the proceeds to fund preferred dividends and the other half for a STRC buyback worth $81.2 million. This is Strategy's second buyback under its $1 billion program announced on June 29, with $893.8 million of authorization remaining.

Strategy increased its USD Reserve by $250M and repurchased $81M of STRC shares. This move extended the company's USD duration by 57 days to 2.3 years and tightened STRC's BTC Credit spread by five basis points.