Strategy Unloads 1,690 Bitcoins, Raises $653 Million Through Share Sales

Strategy, the company behind the MSTR ticker, sold off a significant portion of its Bitcoin holdings last week. Between August 3 and August 9, Strategy disposed of 1,690 Bitcoins at an average price of $64,262, generating $108.6 million in revenue.

The proceeds from this sale were used to repurchase 1,152,020 STRC preferred shares, totaling the entire $108.6 million Bitcoin revenue. Additionally, Strategy sold 6,585,682 MSTR shares through its at-the-market program, raising a net $653.1 million.

$650 million of this new revenue was directed towards increasing Strategy's U.S. dollar reserve, which now stands at $4.65 billion as of August 9. The remaining Bitcoin proceeds were retained by the company, bringing its total to 840,447 Bitcoins acquired for $63.36 billion at an average purchase price of $75,385.