Strategy Sells 1,690 BTC to Fund STRC Stock Buybacks

Strategy, the Bitcoin treasury firm led by Michael Saylor, has sold another batch of BTC to fund STRC stock buybacks and dividend payments. This marks the second consecutive week that Strategy has sold Bitcoin.

The company sold 1,690 BTC for $108.6 million at an average price of $64,262 per BTC last week. The proceeds were used to repurchase 1,152,020 STRC shares for the same amount.

Strategy's USD reserve has increased to $4.65 billion after selling 6.585 million MSTR shares for $653.1 million under its at-the-market program and adding 3.1 million dollars from net proceeds to its cash balance.