Strategy Unloads 1,690 BTC for $109 Million Amid Global Public Company Buying Frenzy

Strategy, a company that tracks and analyzes cryptocurrency-related stocks, recently sold 1,690 BTC for $109 million. This sale was part of its strategy to repurchase shares of STRC preferred stock. According to SoSoValue data, global public companies excluding miners purchased a total of $55.06 million in Bitcoin last week, an increase of 155% compared to the previous week.

Four companies, including Bitmine and Strive, purchased Bitcoin last week. Bitmine, which is an Ethereum treasury company, announced its purchase of 1 Bitcoin on August 3 without disclosing the specific amount. Strive spent $9.53 million purchasing 147 Bitcoin at $64,812 per coin.

Strategy currently holds $4.75 billion in cash, enough to cover approximately 2.7 years of dividend payments. CEO Phong Le stated that institutional investors and those placing short-term funds into Strategy products place greater emphasis on cash liquidity.