Strategy Sells Another $104M Worth of BTC, MSTR Stock Sees Relief Bounce

Strategy's largest Bitcoin treasury firm made headlines again by selling another $104M worth of BTC. The sale consisted of 1,638 units, which is less than its planned target of $5B. The money generated from this sale will be used to fund dividend obligations and deepen the repurchase program for Stretch [STRC] preferred stock.

The firm also sold $290M worth of MSTR stock, with about $250M allocated towards increasing its USD reserve to $4B. Analysts expect a relief bounce in MSTR's price following this move, as it has consistently outperformed Bitcoin over time and is built to do so.

Despite the stock struggling below $100, analysts from Barclays and Cantor Fitzgerald predict that it could reach $180 or even surpass $240. However, Strategy CEO Phong Le maintains that MSTR's exposure to BTC has not changed despite these sales.