Strategy Sells 1,638 Bitcoin to Fund STRC Buybacks and Dividends

Michael Saylor's Strategy has sold 1,638 Bitcoin to fund its STRC buybacks and dividends. The sale of BTC occurred over the past week at an average price of $63,957, with the company selling its holdings for a total of $104.73 million.

This move marks the second time in less than a month that Strategy has sold Bitcoin, following a previous sale of 2,225 BTC in the first week of July.

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

Strategy also increased its USD reserve by $250 million to $4 billion, with $290 million worth of MSTR shares sold to fund the increase.