Strategy Sells $109 Million in Bitcoin as Cash Reserves Soar

Strategy, a company known for its aggressive accumulation of Bitcoin, has sold 1,690 BTC between August 3 and August 9 at an average price of $64,262 per coin. This sale marks a notable move for Strategy, which now holds 840,447 BTC acquired for a total of $63.36 billion, or an average of $75,385 per Bitcoin.

The entire net proceeds from the sale went toward repurchasing STRC, its variable-rate Series A perpetual Stretch preferred stock. During the same period, Strategy also repurchased 1,152,020 STRC shares for $108.6 million under its broader preferred-stock repurchase program announced on June 29.

Saylor said that this maneuver tightened STRC's BTC Credit by 10 bps (basis points), a measure of the company's credit risk tied to its Bitcoin position. Strategy also raised $653.1 million in net proceeds from selling 6,585,682 MSTR common shares through its at-the-market offering program.

The funds were directed into the company's U.S. dollar reserve, which now stands at $4.65 billion as of August 9. The increase in cash reserves is part of Strategy's effort to build a larger cushion to support financial obligations tied to its increasingly complex capital structure.