Strategy Sells $108 Million Worth of Bitcoin to Boost Dollar Reserves

Strategy, a company led by Michael Saylor, has made significant moves to boost its financial reserves. Last week, it sold about 1,691 BTC from its holdings at an average sale price of $64,262. This sale contributed to the increase in Strategy's dollar reserves by $650 million.

As reported by Chairman Michael Saylor on X, the company also bought $109 million of preferred stock STRC. The move has boosted Strategy's dollar-reserve metric to 2.7 years, an increase of 143 days as of August 9.

Strategy now holds a total of 840,447 BTC and maintains dollar reserves of $4.65 billion. The company's strategic moves suggest its continued commitment to financial stability and growth.