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Strategy sells $104.7M of bitcoin, cutting its holdings

The sale brings Strategy’s bitcoin count down to 842,138 coins, and proceeds helped fund dividends and a second preferred-share buyback under a $1 billion program.

Reported · Written up by our desk · Market Structure

Strategy sold 1,638 bitcoin last week for $104.7 million, according to an 8-K filed Monday, trimming its total stack to 842,138 coins from 843,775 held since early July.

Decrypt reports the company sold the bitcoin at an average price of $63,957, roughly $11,500 below its $75,419 cost basis, marking a sale at a loss. The filing also said Strategy has not bought bitcoin since June 22, its longest pause since disclosures began.

Alongside the bitcoin sale, Strategy also sold $291 million in MSTR shares. Decrypt reports that $52.4 million of proceeds funded dividends on Strategy’s preferred stock, $52.3 million went toward an $81 million buyback of STRC preferred shares, the second repurchase in two weeks under a $1 billion program, and the rest was added to cash reserves, now $4 billion.

Decrypt also notes that STRC has traded below its $100 par value since mid-May, and that Strategy’s preferred-share slide has weighed on the structure. The outlet further points to Saylor’s shift in messaging, including a statement that his “Never Sell Your Bitcoin” line is directed as one saver to another, while clarifying that Strategy is a public company that may manage capital by buying or selling bitcoin.

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