Strategy Unloads 1,638 BTC Worth $105M Amid Rising Dollar Reserves
Strategy, the world's largest publicly traded Bitcoin holder, has announced another significant sale of its BTC reserves. According to Michael Saylor, founder of Strategy, the company sold 1,638 Bitcoins worth approximately $105 million between July 27 and August 2, at an average price of $63,957 per Bitcoin.
The sale generated $104.7 million in revenue for Strategy, which was used to finance preferred stock dividends and repurchase STRC shares. This sale marks the beginning of a new era for Strategy, as it started August with sales after not making any purchases in July for approximately 6 weeks.
Strategy also raised $290.6 million through the sale of MSTR shares during the same period. A portion of these funds was used to repurchase STRC shares worth $81.2 million. As a result, Strategy's US dollar reserves have risen to approximately $4 billion, extending the period for dividend payments by 57 days to 2.3 years.