Strategy Sells 1,690 BTC Worth $108.6M in Latest Massive Sale

Strategy, the largest publicly traded Bitcoin holder, has announced another massive sale of BTC. The company sold 1,690 Bitcoins worth approximately $108.6 million between August 3-9 at an average price of $64,262 per Bitcoin. This latest sale marks Strategy's fourth consecutive week of selling BTC.

The revenue generated from the sales will be used to finance preferred stock dividends and to repurchase STRC shares. The total number of Bitcoins held by Strategy has fallen to 840,447. In July, Strategy made no purchases, and with this latest sale, it marks a period of approximately 7 weeks without buying BTC.

In addition to the BTC sale, Strategy also raised $653.1 million through the sale of MSTR shares during the same period. Of these funds, $109 million was used for the STRC share buyback. Strategy's US dollar reserves have risen to approximately $4.65 billion, extending the period for dividend payments using dollar reserves by 143 days to 2.7 years.