Strategy Sells Billions in Bitcoin and Shares Amid Overhaul

Strategy Inc has continued its pivot away from relentless bitcoin buying, completing a US$105 million sale of Bitcoin and offloading three million shares worth US$291 million in a move to shore up its capital structure.

The company, led by Michael Saylor, has been working on an overhaul of its financing model since the end of June. This shift gives management more flexibility to sell bitcoin, repurchase securities, and preserve liquidity.

As part of this effort, Strategy has also repurchased US$81 million worth of its STRC preferred shares, which are trading at a discount. Some of the proceeds from the common-stock sales were used to increase its dollar-based reserve pool to US$4 billion.