Strategy Sells 1,690 BTC, Boosts USD Reserve with STRC Buybacks

Michael Saylor's company, Strategy, has sold 1,690 BTC for $108.6 million at an average price of $64,262 per BTC last week.

The proceeds from this sale were used to buy back STRC shares, with the company purchasing 1,152,020 STRC shares for $108.6 million.

This marks the second consecutive week that Strategy has sold Bitcoin, and follows a similar move two weeks ago where the company sold 1,638 BTC to fund STRC buybacks and dividend payments.

The STRC stock has seen a notable increase in value since its June low of $74, rising over 10% in the last month, but remains below its par value of $100.