Strategy sold 3,588 bitcoin for about $216 million last week, reducing its holdings to 843,775 BTC. The company said the proceeds will help fund preferred-stock distributions and rebuild its U.S. dollar reserve.
Strategy sold 3,588 bitcoin for about $216 million last week, reducing its holdings to 843,775 BTC. The company said the proceeds will help fund preferred-stock distributions and rebuild its U.S. dollar reserve.
Strategy sold 3,588 bitcoin for approximately $216 million last week, according to a Monday SEC filing cited by CoinDesk. The sale reduced the Michael Saylor-linked company’s total bitcoin holdings to 843,775 BTC.
Strategy sold 3,588 bitcoin for approximately $216 million last week, according to a Monday SEC filing cited by CoinDesk. The sale reduced the Michael Saylor-linked company’s total bitcoin holdings to 843,775 BTC.
The move matters because Strategy has been one of the most visible corporate holders of bitcoin, and changes in its treasury activity are closely watched by crypto and equity-market participants. The company said the proceeds will be used to fund distributions on its preferred stock and replenish the portion of its U.S. dollar reserve used for those payments.
As of July 5, Strategy’s dollar reserve stood at $2.55 billion. The latest sale was executed at an average price of roughly $60,000 per bitcoin, according to the report.
The pace of selling was notably higher than about a month earlier, when Strategy sold 32 bitcoin. CoinDesk reported that the company currently holds 843,775 BTC acquired for about $63.69 billion, implying an average purchase price of $75,476 per bitcoin.
Strategy also said it did not sell shares under its at-the-market equity program during the week ended July 5 and did not repurchase shares under its buyback programs. The company added that the full $1.25 billion capacity under its recently announced BTC Monetization Program remains available.
CoinDesk reported that Strategy shares were down 2% in pre-market trading, while bitcoin had given back much of its weekend gain, moving to $61,900 from $62,900 before the announcement.
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