Strategy Sells 1,690 Bitcoin, Repurchases STRC Shares with Proceeds
Strategy, led by Michael Saylor, has made a significant move in its balance sheet. The company sold 1,690 BTC for $108.6 million between August 3 and August 9 at an average price of $64,262 per coin.
The proceeds from the sale were used to repurchase Strategy's variable-rate Series A perpetual Stretch preferred stock (STRC) shares. In total, 1,152,020 STRC shares were repurchased for $108.6 million during the same period.
Strategy still holds 840,447 BTC, acquired for an aggregate of $63.36 billion, or an average of $75,385 per bitcoin.
The company also raised $653.1 million in net proceeds by selling 6,585,682 MSTR common shares through its at-the-market offering program. This increased Strategy's U.S. dollar reserve to $4.65 billion as of August 9.