The company boosted its USD reserves to $4.65 billion while decreasing its bitcoin assets to 840,447 BTC
By James Van Straten|Edited by Shaurya Malwa50 min ago1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Strategy sold 1,690 bitcoins for $108.6 million and utilized the funds to repurchase 1.15 million STRC shares.
- The company raised $653.1 million from the sale of MSTR stock, allocating $650 million to its USD reserves.
The bitcoin treasury firm Strategy (MSTR) reported that it raised $108.6 million last week from selling 1,690 bitcoins and an additional $653.1 million through the sale of 6.59 million shares of its common stock, as disclosed in a filing on Monday.
The proceeds from the bitcoin sale were used to buy back 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.
This sale reduced Strategy’s bitcoin holdings to 840,447 BTC, which were acquired at a total cost of $63.36 billion, averaging $75,385 per bitcoin. The 1,690 bitcoins were sold at an average price of $64,262 after accounting for fees and expenses.
From its common-stock sales, Strategy allocated $650 million to its USD reserves, bringing the total reserve to $4.65 billion as of August 9. The remaining $3.1 million was added to the company's cash reserves.
After these transactions, Strategy has $785.2 million left in its preferred-stock repurchase program and $1 billion available for its MSTR common-stock repurchase program.
Both MSTR and STRC saw a 0.5% increase in pre-market trading on Monday, while bitcoin was trading around $65,000.
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