Crypto
Strategy Unloads $104M in BTC Sales, Bolsters Cash Reserves to $4B
Strategy, an investment vehicle, has sold off a significant portion of its Bitcoin holdings, netting approximately $104.7 million in the process.
The company made these sales between July 27 and August 2, selling 1,638 BTC at an average price of $63,957 per coin.
About half of the proceeds from this sale were used to pay preferred stock dividends, while the remainder was allocated towards repurchasing STRC shares.
In addition to these transactions, Strategy also raised $290.6 million through sales of its MSTR common stock during the same period and spent $81.2 million buying back STRC shares.