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Strategy cuts Bitcoin holdings again while boosting cash for buybacks

Strategy sold 1,690 BTC for $108.6 million and funded buybacks of its STRC preferred stock, while also selling $653.1 million of MSTR shares to lift cash reserves to $4.65 billion.

Reported · Written up by our desk · Market Structure

Strategy sold 1,690 bitcoin for $108.6 million last week, trimming its BTC stack to 840,447 coins from 842,138 a week earlier, according to an 8-K filed as discussed by Decrypt.

Decrypt said the bitcoin was sold at an average of $64,262, about $11,100 below Strategy’s $75,385 cost basis, and that the proceeds were used for buybacks of its preferred stock STRC, which then rebounded to $95.

Separately, Strategy sold $653.1 million of MSTR common stock, more than double the prior week, bringing its cash reserves to $4.65 billion from $4 billion, Decrypt reported.

The analysis added that the cash reserve covers about 2.7 years of USD Duration tied to Strategy’s $1.76 billion in annual preferred dividends and debt interest, and noted that MSTR stock had held up despite recent dilution and prior coin sales.

Latest closeBitcoin $64,135.06 ▲0.3%

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