Strategy Sells Another Tranche of Bitcoin, Boosts Cash Reserve

Michael Saylor's Strategy has continued to reshape its balance sheet by selling another tranche of Bitcoin, generating $104.73 million in net proceeds.

The company disclosed that it sold 1,638 BTC between July 28 and Aug. 2, reducing its holdings to 842,138 BTC acquired for a combined $63.51 billion at an average purchase price of $75,419 per Bitcoin.

Alongside the cryptocurrency sale, Strategy also raised $290.6 million by issuing 3.01 million shares of its Class A common stock under its at-the-market equity offering program.

The proceeds helped increase Strategy's U.S. dollar reserve by approximately $250 million, lifting its total cash holdings to $4 billion, according to the filing.