Strategy executed a significant bitcoin (BTC) sale last week, offloading 1,638 coins for approximately $105 million, while simultaneously repurchasing $81.2 million of its high-yield preferred stock STRC, according to a Monday SEC filing reported by CoinDesk.
Strategy’s Bitcoin Sales and Treasury Update
The bitcoin sale reduced the company’s total holdings to 842,138 BTC, acquired at an average price of $75,419 per coin for a total cost of $63.51 billion.
In addition to the BTC sale, Strategy raised $290.6 million through the issuance of 3.01 million common shares. The proceeds were allocated to fund preferred stock dividends, add $250 million to its US dollar reserve, which now stands at $4 billion, and facilitate the STRC repurchase. This follows the firm’s earlier efforts to boost its cash reserve and buy back STRC, as previously reported.
Market Context and Implications
The news comes as bitcoin trades around $62,500, down over the weekend, and MSTR shares slipped 1.9% in pre-market trading. Bitcoin slid 2% after the US close amid broader equity market turmoil.
Despite the sales, Strategy remains the largest corporate holder of bitcoin, though other firms are also expanding their treasury positions. For instance, Hyperscale Data recently pushed its bitcoin treasury to 1,087 BTC, reflecting the ongoing trend of institutional bitcoin adoption.
