Strategy Unloads 1,690 BTC for $108.6M, Repurchases STRC

Strategy, Michael Saylor's company, has made a notable move by selling 1,690 BTC for $108.6 million between Aug. 3 and Aug. 9 at an average price of $64,262 per coin.

The entire net proceeds from the sale were used to repurchase STRC, its variable-rate Series A perpetual Stretch preferred stock, with Strategy purchasing 1,152,020 shares for $108.6 million during the same period.

This move marks a change in strategy for the company, which has been known for aggressively accumulating BTC. The sale also tightened STRC's 'BTC Credit' by 10 basis points, according to Saylor.

Strategy raised an additional $653.1 million through its at-the-market offering program, selling 6,585,682 MSTR common shares, and directed $650 million into its U.S. dollar reserve, pushing it to $4.65 billion as of Aug. 9.