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Strategy sells 1,638 Bitcoin to fund dividends and STRC repurchases

The sale, completed July 27 through Sunday, raised about $104.7 million at an average price near $64,000 per Bitcoin, with proceeds split between STRC dividends and repurchases.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that Michael Saylor’s Strategy sold 1,638 Bitcoin between July 27 and Sunday, marking the company’s second-largest BTC sale of the year.

In an SEC 8-K filing, Strategy said the average sale price was $63,957, for total proceeds of $104.7 million. The company allocated $52.4 million to fund dividend payments on its STRC preferred stock and $52.3 million to repurchase STRC.

After the transaction, Strategy reported it still holds 842,138 Bitcoin, bought at an aggregate cost of $63.5 billion. The outlet also notes that Strategy previously sold 3,588 Bitcoin for about $216 million on July 6, and disclosed a sale of 32 Bitcoin in early June.

Strategy said it repurchased $81.2 million worth of STRC stock and extended its US dollar runway by 57 days to 2.3 years, according to a post by Saylor. STRC traded at $89.40 in Monday pre-market trading, or 10.6% below its $100 target value, based on Yahoo Finance data cited by Cointelegraph.

Latest closeBitcoin $63,780.28 ▲0.5%

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