Strategy Sells $105M in Bitcoin as it Focuses on USD Reserve

Strategy, a Bitcoin treasury firm, has made another significant sale of its Bitcoin holdings. In the week leading up to August 2nd, Strategy sold 1,638 BTC for $104.7 million at an average price of $63,957 per coin. This brings down their total Bitcoin stack to 842,138 coins.

The proceeds from this sale were split equally between funding preferred dividends and repurchasing STRC shares. Specifically, $52.4 million went towards paying out dividends on the company's preferred stock, while another $52.3 million was used for a $81.2 million STRC buyback.

This is Strategy's second major buyback under its $1 billion program announced in June. The remaining proceeds were funded by common stock sales. With this sale, Strategy has now used $321 million of its disposal capacity since the framework was established.