Strategy Spends $602M Share Sale on Bitcoin and Preferred Stock Repayments

Strategy, a company that recently sold $602.8 million worth of MSTR common shares, has allocated its proceeds to fund Bitcoin purchases and support for its STRC preferred stock.

The company's Aug. 31 filing shows it split the funds among buying 4,603 BTC at an average price of $80,318, inclusive of fees and expenses, as well as repurchasing 1,557,177 STRC shares for $151.8 million and paying out STRC dividends worth $50.7 million.

Strategy's USD Cash account received $30 million from the sale proceeds, which can be used for various corporate purposes, including further Bitcoin purchases or expanding its reserve.

The company's decision to use common-stock proceeds for both Bitcoin accumulation and preferred-stock support highlights its renewed focus on diversifying its assets and managing its balance sheet effectively.