Strategy Sells $108.6M in Bitcoin to Fund STRC Buybacks
Key Insights:
- Strategy sold $108.6M in Bitcoin and used all proceeds to repurchase STRC shares.
- Strategy raised $653.1M through MSTR sales and lifted its dollar reserve to $4.65B.
- MSTR stock recovered from about $97.40 while remaining below the $100.01 close.
Strategy sold 1,690 Bitcoin for $108.6 million between August 3 and August 9. The company sold the Bitcoin at an average price of $64,262 per coin. It used the entire proceeds to repurchase 1,152,020 STRC shares under its existing buyback program. The transaction came as Strategy separately raised $653.1 million through MSTR stock sales.
The two transactions served different purposes within Strategy’s capital structure. The Bitcoin sale provided funds for the STRC buyback, while the MSTR stock sale supported the company’s cash position.
Strategy allocated $650 million from the stock sale to its U.S. dollar reserve. That allocation increased the reserve from $4 billion to $4.65 billion within one week.
However, past price patterns and technical indicators do not guarantee future market performance. Investors should independently assess the risks associated with cryptocurrency investments before taking action.
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