Strategy Sells More Bitcoin, Boosts Cash Reserve Amid Stock Decline

Strategy Inc., the largest corporate holder of Bitcoin, has continued to sell its cryptocurrency holdings while issuing millions of new shares. In the seven days ended August 9, the company sold 1,690 Bitcoin for approximately $108.6 million.

This marks the second consecutive week of Bitcoin sales for Strategy, which has accumulated over 840,447 coins at an average purchase price of around $75,385 per coin.

The sale of Bitcoin and new shares helped push the company's U.S. dollar reserve to approximately $4.65 billion, according to its latest filing with the U.S. Securities and Exchange Commission.