Strategy Sells Another 1,690 BTC to Fund Preferred Stock Repurchases

Strategy, the largest corporate Bitcoin treasury holder, has continued its strategy of selling BTC to repurchase its STRC preferred stock. Between August 3 and August 9, the company sold 1,690 BTC for $108.6 million, marking its fourth disclosed Bitcoin sale this year.

The sale proceeds were used to buy back 1.15 million shares of STRC preferred stock at a price of $94.78 per share. This is not the first time Strategy has used Bitcoin sales to fund STRC repurchases; it did so in July, selling 1,638 BTC for $104.73 million.

Strategy's total Bitcoin holdings now stand at 840,447 BTC, with an average purchase price of $75,385 per BTC, including fees and expenses. The company sold the latest batch of BTC at an average net price of $64,262 per coin.

The sale also boosted Strategy's US dollar reserve, which now stands at $4.65 billion. This figure includes $650 million in net proceeds from recent MSTR stock sales and expected proceeds from at-the-market (ATM) sales that had not yet settled.