Strategy Sells Another 1,690 BTC, Bringing Total Sales to 6,916

Strategy, the company behind the MSTR stock and STRC preferred shares, has continued its bitcoin-selling spree. Between August 3rd and 9th, Strategy sold another 1,690 BTC for $108.6 million at an average price of $64,262 per coin.

This sale brings Strategy's total reported Bitcoin sales in recent weeks to 6,916 BTC. The company has been raising cash and repurchasing its STRC preferred shares with the proceeds from these sales.

Strategy used the full $108.6 million from this latest sale to buy back 1,152,020 shares of its variable-rate STRC preferred stock. This move increases Strategy's dollar reserves while maintaining one of the largest corporate Bitcoin holdings.

The company has also directed recent capital toward its reserves and preferred securities, with a total of $785.2 million remaining under its STRC repurchase program and $1 billion available under its MSTR common-stock repurchase program.