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Strategy sells $104.7M of bitcoin, boosts STRC buyback

The sale reduced Strategy’s bitcoin holdings to 842,138 BTC and funded $52.3 million for an $81 million STRC share repurchase, its second under a $1 billion program.

Reported · Written up by our desk · Market Structure

Strategy sold 1,638 BTC for $104.7 million in the week ending Aug 2, according to an 8-K filed Monday, cutting its bitcoin stack to 842,138 BTC from 843,775 BTC held since early July.

The company split the proceeds, with $52.4 million used to fund preferred dividends and $52.3 million directed toward repurchasing STRC shares. The buyback totaled $81.2 million, or 912,143 STRC shares, with the remainder funded out of common stock sales.

Strategy said the transactions extended its USD duration by 57 days to 2.3 years and tightened STRC’s bitcoin credit spread by five basis points. It also said it will keep the STRC dividend rate at 12% a year, declaring semi-monthly payments of $0.50 per share.

Strategy noted it has not bought bitcoin since June. The week’s activity marked its second STRC buyback under a $1 billion program announced June 29, and it said $893.8 million of authorization remains outstanding after the latest $81 million purchase.

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