Strategy · Bitcoin · Bitcoin Magazine
Strategy Sells Bitcoin Again For Cash Buffer, STRC Buyback
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Strategy now hasn't bought Bitcoin since June as the company focuses on having a cash cushion.
Key facts
- Securities and Exchange Commission, the Nasdaq-listed company said it sold 1,690 coins for $108.6 million, bringing its holdings to 840,447 coins, down from 842,138 it had the week
- The cash, Strategy said, went to buying 1,152,020 STRC shares worth $109 million as part of a buyback program
- But now, as Bitcoin is nearly 50% below its October record, MSTR is down nearly 80% from the all-time high it notched last year — It has since spent more than $63.5 billion buying Bitcoin and remains by far the largest corporate holder of Bitcoin in the world
Summary
Bitcoin treasury company Strategy on Monday announced that it again sold Bitcoin last week, and used the cash to buy back its preferred stock. Securities and Exchange Commission, the Nasdaq-listed company said it sold 1,690 coins for $108.6 million, bringing its holdings to 840,447 coins, down from 842,138 it had the week before. The cash, Strategy said, went to buying 1,152,020 STRC shares worth $109 million as part of a buyback program. Strategy, which went from being an enterprise software company to buying Bitcoin in 2020, hasn’t bought any Bitcoin since June.