Strategy Sells $2 Billion in MSTR Shares as Bitcoin Surges Past $80K

Michael Saylor's Strategy has made no Bitcoin purchases or sales in the last week, but it did sell $2.01 billion worth of MSTR shares through its ATM program.

The sales were carried out between August 17th and 23rd, with Strategy selling 18,261,118 MSTR shares at an unspecified price.

The net proceeds from the sale were used to fund several purposes: $136.4 million was used to repurchase Strategy's STRC preferred stock, while $300 million was added to its existing USD reserve, which now stands at approximately $5.1 billion.

The remaining proceeds increased Strategy's newly established USD Cash account, which held $1.59 billion as of August 23rd.

Notably, this sale does not indicate that Strategy has abandoned its Bitcoin strategy, despite the recent surge in Bitcoin prices to over $80,000.