Strategy Liquidates 1,690 Bitcoins, Generates $653 Million from MSTR Shares

Company’s Cash Reserves Reach $4.65 Billion After Strategic Moves

Strategy, a bitcoin treasury company, recently announced the sale of 1,690 bitcoins, generating $108.6 million. The proceeds were utilized to repurchase 1.15 million shares of its variable-rate preferred stock, STRC. Furthermore, the firm raised $653.1 million from selling 6.59 million shares of its common stock.

Following these transactions, Strategy’s bitcoin holdings have been reduced to 840,447 BTC, purchased at an average cost of $75,385 per bitcoin. The bitcoins were sold for an average price of $64,262 each, netting the company significant funds amidst a buoyant market.

From the common stock sale, Strategy allocated $650 million to its cash reserves, elevating the total to $4.65 billion as of August 9. The remaining $3.1 million bolstered the firm's cash assets.

Post-sale, Strategy retains $785.2 million for the preferred-stock buyback initiative and has $1 billion earmarked for future stock repurchases of MSTR. Following these announcements, shares of both MSTR and STRC experienced a mild increase of 0.5% in pre-market trading, while bitcoin prices remained around $65,000.