Strategy Sells 1,690 Bitcoin, Raises $653M in MSTR Shares to Fund STRC Buyback
Strategy sold 1,690 bitcoin and raised $653 million from sales of MSTR shares, according to CoinDesk. The bitcoin sale proceeds, put at $108.6 million by Cointelegraph and $109 million by Decrypt, went entirely into a buyback of the company’s STRC shares, Decrypt reported, noting Strategy raised roughly six times as much from stock sales as it did from bitcoin.
The transaction left Strategy’s bitcoin holdings at 840,447 BTC and pushed its U.S. dollar reserve up to $4.65 billion, according to Cointelegraph and The Block. Those holdings represent roughly 4% of the 21 million bitcoin supply cap and are worth about $55 billion, The Block reported. A separate CoinDesk report put the company’s cash cushion at $4.75 billion, framing the buildup as a signal that bitcoin holdings alone are not satisfying investors.
Strategy, led by Michael Saylor, has built its balance sheet around large bitcoin purchases funded through equity and debt issuance. The latest sale marks a rare instance of the company trimming its bitcoin stack rather than adding to it, directing the funds instead toward supporting its STRC stock price.
Sources: CoinDesk, The Block, Decrypt, Cointelegraph
This article is for information only and is not financial advice.
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