3 Reasons Why Strategy Sold Some Of Its Bitcoin
MicroStrategy went from buying $BTC on the first day of the week to selling BTC on the first day of the week.
Here are 3 reasons why Strategy sold some of its Bitcoin:
1/ Replenish Its USD Reserve:
Selling some BTC helps Strategy replenish and grow the company's USD cash reserve to protect against cryptocurrency market volatility and ensure long-term liquidity.
2/ Pay Dividends On Its Preferred Stock:
The proceeds from selling BTC are used to cover STRC preferred dividends and interest payments.
3/ Share Buybacks:
BTC-sale proceeds have been used to repurchase STRC preferred shares, which helps support that part of its capital structure. For example, Strategy sold 1,690 BTC for about $108.6 million in early August and used the proceeds to repurchase about 1.15 million STRC shares.
#Bitcoin #BTC
MicroStrategy went from buying $BTC on the first day of the week to selling BTC on the first day of the week.
Here are 3 reasons why Strategy sold some of its Bitcoin:
1/ Replenish Its USD Reserve:
Selling some BTC helps Strategy replenish and grow the company's USD cash reserve to protect against cryptocurrency market volatility and ensure long-term liquidity.
2/ Pay Dividends On Its Preferred Stock:
The proceeds from selling BTC are used to cover STRC preferred dividends and interest payments.
3/ Share Buybacks:
BTC-sale proceeds have been used to repurchase STRC preferred shares, which helps support that part of its capital structure. For example, Strategy sold 1,690 BTC for about $108.6 million in early August and used the proceeds to repurchase about 1.15 million STRC shares.
#Bitcoin #BTC