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Strategy trims 1,690 bitcoin, boosts USD reserve to $4.65B

The bitcoin sale generated $108.6 million, which Strategy used to repurchase 1.15 million STRC shares, while $650 million from MSTR stock sales went to its USD reserve.

Reported · Written up by our desk · Market Structure

Bitcoin treasury firm Strategy (MSTR) sold 1,690 bitcoin for $108.6 million, using the proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for the same amount.

After the transaction, Strategy reduced its bitcoin holdings to 840,447 BTC. The article says the 1,690 bitcoin were sold at an average price of $64,262 per bitcoin, net of fees and expenses.

Strategy also raised $653.1 million through sales of 6.59 million shares of its common stock, directing $650 million of those proceeds to its USD reserve. The reserve balance increased to $4.65 billion as of Aug. 9, and the remaining $3.1 million was added to its cash balance.

Following the latest moves, Strategy said it has $785.2 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program. Both MSTR and STRC were up about 0.5% in Monday pre-market trading, with bitcoin trading near $65,000, according to CoinDesk.

Latest closeBitcoin $64,841.08 ▼0.0%

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