Strategy sells 1,638 Bitcoin for $105 million to fund dividends and share buybacks

Strategy reduced its Bitcoin treasury by selling 1,638 BTC for approximately $105 million during the week ended August 2, lowering its holdings to 842,138 BTC, valued at $52.7 billion at current market prices, according to a new SEC filing. Source: sec.gov Strategy said it used $52.4 million from its Bitcoin sale to fund preferred stock dividends, while another $52.3 million was allocated to repurchasing STRC preferred shares. The company also raised over $290 million through the sale of approximately 3 million MSTR shares under its ATM program. It directed $250 million of the proceeds to its USD Reserve, $28.9 million toward STRC repurchases, and $11.7 million to its cash balance. Including the expected proceeds from unsettled ATM share sales, Strategy’s USD Reserve totaled $4 billion as of August 2. The firm bought back 912,143 STRC shares for $81.2 million. Strategy aims to restore Stretch to par and boost Bitcoin per share Strategy plans to restore its Stretch preferred security to par as it seeks to reinforce the digital credit engine underpinning its Bitcoin accumulation strategy, CEO Phong Le said during the company’s quarterly earnings call last week. Le said returning Stre...