Strategy Sells 1,638 Bitcoin for $104.73M as Strategy Boosts USD Reserves

Michael Saylor's strategy for Strategy has sold 1,638 Bitcoin (BTC) over the past week at an average price of $63,957. This sale brings in a total of $104.73 million, reducing the company's BTC holdings to 842,138 units.

The sold BTC was purchased for $63.51 billion at an average price of $75,419, which is significantly lower than the current market value. The strategy has not made any significant Bitcoin purchases in over five weeks, with its last reported purchase being on June 22 when it bought 520 BTC.

The company used a portion of the proceeds from the sale to fund dividend payments on the STRC stock and purchased back STRC shares under the Digital Securities Repurchase Program. Specifically, $52.4 million was used for dividends and $52.3 million was used for share buybacks.

In addition to the BTC sale, Strategy also increased its USD reserve by $250 million to a total of $4 billion. This increase includes expected cash proceeds from shares sold under its ATM program that had not yet settled as of the current date.