Strategy · Bitcoin · Michael Saylor · The Block
Strategy sells $334 million in MSTR shares, makes no bitcoin purchases or sales as USD reserve hits $4.8 billion
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Bitcoin treasury company Strategy sold approximately $333.7 million worth of MSTR shares last week, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Key facts
- Bitcoin traded flat on Monday immediately following the filing, per The Block's BTC price page, up around 1% in the past 24 hours at $63,539
- Strategy has therefore retained its bitcoin holdings at 840,447 BTC, worth around $53.4 billion, bought at an average price of $75,385 per bitcoin for a total cost of around $63.4 billion, including
- Strategy's holdings are still equivalent to around 4% of bitcoin's 21 million supply cap, but carry around $10 billion of paper losses at current prices
- The firm said it sold 3,458,866 MSTR shares between Aug. 10 and Aug. 16, buy did not buy or sell and bitcoin during the period
Summary
The firm said it sold 3,458,866 MSTR shares between Aug. 10 and Aug. 16, buy did not buy or sell and bitcoin during the period. $52.4 million in net proceeds from the MSTR sales were used to fund dividends on Strategy's STRC preferred stock, $132.2 million were used to fund repurchases of STRC under its Digital Credit Securities Repurchase Program, and $149.1 million were used to increase its USD reserve to $4.8 billion, the firm said. Strategy has therefore retained its bitcoin holdings at 840,447 BTC, worth around $53.4 billion, bought at an average price of $75,385 per bitcoin for a total cost of around $63.4 billion, including fees and expenses.