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Strategy sells more Bitcoin to fund dividends and manage reserves
Strategy Inc. said it sold 1,638 BTC between July 27 and Aug. 2, raising about $104.7 million, while keeping 842,138 BTC on hand.
Strategy Inc. continues to fund its dividend and reserve strategy by selling Bitcoin, according to reporting summarized by Yahoo Finance. The latest sales were executed between July 27 and Aug. 2, totaling 1,638 BTC for roughly $104.7 million at an average price of $63,957.
The company also raised additional cash via common stock sales, adding another $290.6 million, bringing its broader reserve and buyback activity into focus. Strategy said the actions boosted its USD reserve by $250 million and supported an $81 million buyback of its high-yield fixed-income instrument STRC.
Yahoo Finance also notes that the Bitcoin sales helped cover costs after STRC, the company's high-yield fixed-income instrument, broke its $100 peg and fell to $70. Strategy increased USD Duration by 57 days to 2.3 years and tightened STRC's BTC Credit by 5 bps, while recognizing that sales booked losses versus its cost basis.
Despite the sales and volatility around STRC, Strategy reported $5.7 billion in gross Treasury Reserve and $3.57 billion in net reserves after obligations. The company still held 842,138 BTC, worth about $63.51 billion, after selling roughly 5,226 BTC for about $320.73 million, per the same account.
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