Strategy Sells 1,638 Bitcoin to Fund STRC Dividends and Buybacks
Michael Saylor’s Strategy sold 1,638 Bitcoin between July 27 and August 2, raising $104.7 million in its second-largest BTC sale of the year.
The company sold the Bitcoin at an average price of $63,957. About $52.4 million was used to pay dividends on its STRC preferred stock, while another $52.3 million funded STRC share repurchases.
Strategy now holds 842,138 BTC acquired for a total of $63.5 billion. The company previously sold 3,588 BTC for roughly $216 million in July and 32 BTC in June.
Strategy also raised $290.6 million by selling MSTR shares during the same period. It allocated $250 million to its US dollar reserve, increasing it to $4 billion, while the remainder supported further STRC repurchases and cash holdings.
Chairman Michael Saylor said Strategy repurchased a total of $81.2 million in STRC shares and extended its cash runway to approximately 2.3 years.
STRC traded about 10.6% below its targeted $100 value, potentially limiting Strategy’s ability to raise new capital through the preferred stock and increasing pressure to offer higher dividends.
$BTC
Michael Saylor’s Strategy sold 1,638 Bitcoin between July 27 and August 2, raising $104.7 million in its second-largest BTC sale of the year.
The company sold the Bitcoin at an average price of $63,957. About $52.4 million was used to pay dividends on its STRC preferred stock, while another $52.3 million funded STRC share repurchases.
Strategy now holds 842,138 BTC acquired for a total of $63.5 billion. The company previously sold 3,588 BTC for roughly $216 million in July and 32 BTC in June.
Strategy also raised $290.6 million by selling MSTR shares during the same period. It allocated $250 million to its US dollar reserve, increasing it to $4 billion, while the remainder supported further STRC repurchases and cash holdings.
Chairman Michael Saylor said Strategy repurchased a total of $81.2 million in STRC shares and extended its cash runway to approximately 2.3 years.
STRC traded about 10.6% below its targeted $100 value, potentially limiting Strategy’s ability to raise new capital through the preferred stock and increasing pressure to offer higher dividends.
$BTC