Strategy Sells More Bitcoin as It Continues Cash Management

Strategy, formerly MicroStrategy, has sold another slice of its Bitcoin holdings. In a recent filing with the Securities and Exchange Commission (SEC), the company announced that it had offloaded 1,638 BTC between July 27 and August 2 at an average price of $63,957 per coin.

The sale generated around $104.7 million in proceeds, which were split to cover two obligations: $52.4 million went towards dividend payments on Strategy's preferred stock, and $52.3 million funded buybacks of its Stretch (STRC) preferred shares.

This marks the latest in a string of weeks where Strategy has chosen to trim Bitcoin rather than add to it, continuing a pattern that began earlier this summer as the company leaned more heavily on stock sales and cash management to fund its obligations.