Strategy Sells 1,638 Bitcoin at Loss to Fund Massive Buyback

Strategy Inc, formerly known as MicroStrategy, has disclosed that it sold 1,638 Bitcoin at an average price of $63,957 to fund a massive buyback of its STRC preferred stock. This sale resulted in a realized loss of approximately $18.8 million for the company.

The repurchased STRC preferred stock totaled 912,143 shares and cost $81.2 million, with each share being valued at around $89. Strategy's Bitcoin holdings now stand at 842,138 BTC after this sale.

This move marks a significant shift in the company's strategy, as it has been selling rather than buying Bitcoin over the past two months. This change in cadence may raise concerns among investors who purchased MSTR as a Bitcoin proxy or under the assumption of a buy-and-hold thesis.