Strategy sells $104.7 million in Bitcoin to support preferred stock

Strategy has sold 1,638 Bitcoin for $104.7 million after redirecting part of the proceeds toward preferred-stock dividends and share repurchases while increasing its U.S. dollar reserve. Summary Strategy sold 1,638 Bitcoin for $104.7 million to fund STRC dividends and share repurchases. The company increased its U.S. dollar reserve to about $4 billion while raising another $290.6 million through MSTR stock sales. Strategy’s Bitcoin holdings now stand at 842,138 BTC as it continues prioritizing STRC support over new Bitcoin purchases. An SEC filing submitted on Monday showed the company sold the Bitcoin between July 27 and Sunday at an average price of $63,957 per coin. Strategy allocated $52.4 million from the sale to dividend payments on its STRC perpetual preferred stock, while another $52.3 million went toward repurchasing STRC shares. Following the transaction, Strategy’s Bitcoin holdings declined to 842,138 BTC acquired at a combined cost of approximately $63.5 billion. The filing also disclosed that Strategy raised another $290.6 million by selling MSTR common shares during the same reporting period. Of that amount, $250 million was added to the company’s U.S. dollar reserve,...