Strategy Sells $108M in BTC, Boosts USD Reserve to $4.65B

Strategy, Michael Saylor's Bitcoin treasury firm, sold 1,690 BTC for $108.6 million in the week to Aug 9, reducing its holdings from 842,138 coins to 840,447. The sale took place at an average price of $64,262 per coin, net of fees.

The proceeds from this sale were used to fund a $108.6 million buyback of Strategy's preferred stock, STRC. This is the company's third buyback under its $1 billion Digital Credit Securities Repurchase Program announced in June. The remaining authorization for this program stands at $785.2 million.

Strategy also sold 6,585,682 common shares for $653.1 million net in the same week, which added to its dollar reserve of $4.65 billion as of Aug 9. This is up from $4 billion the previous week. The company has used about $429 million of its capacity to sell up to $1.25 billion worth of assets since it unveiled its capital framework in June.