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Strategy sells $333.7 million of MSTR shares, boosts USD reserve
The firm sold 3,458,866 MSTR shares between Aug. 10 and Aug. 16, then directed $149.1 million of proceeds to raise its USD reserve to $4.8 billion.
Strategy sold $333.7 million worth of MicroStrategy (MSTR) shares between Aug. 10 and Aug. 16, according to a Securities and Exchange Commission filing, The Block reported. The firm said it did not buy or sell any bitcoin during the period. The proceeds were allocated across multiple uses, including funding dividends on Strategy’s STRC preferred stock and repurchases under its Digital Credit Securities Repurchase Program, while also adding to cash. Strategy reported that $52.4 million in net proceeds funded STRC preferred dividends, $132.2 million funded STRC repurchases, and $149.1 million increased its USD reserve to $4.8 billion.
Strategy said it retained its bitcoin holdings at 840,447 BTC, which it valued at about $53.4 billion, based on the report. The filing indicates the position was bought at an average price of $75,385 per bitcoin for a total cost of about $63.4 billion, including fees and expenses.
The Block said the firm’s bitcoin holdings remain equivalent to around 4% of bitcoin’s 21 million supply cap, but carry about $10 billion of paper losses at current prices. Bitcoin was reported as trading roughly flat after the filing, while MSTR shares were up about 1.3% in pre-market trading.
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