Strategy Sells $102 Million Worth of Bitcoin
Michael Saylor's Strategy has offloaded a portion of its bitcoin holdings to fund share buybacks and dividend obligations, retaining over 840,000 coins.
Michael Saylor's Strategy has parted with another portion of its massive digital asset treasury, offloading over a thousand coins last week to fund corporate buybacks and dividend obligations, according to U. The transaction marks a continuation of the firm's evolving financial strategy under Michael Saylor, which has seen the company step away from its once-strict buy-only approach to manage preferred stock and bolster liquidity.
According to an SEC filing cited by Coingape and CoinDesk, the company sold 1,638 bitcoin over the past week. Reports vary slightly on the exact gross proceeds, with U and blockchain analytics platform Lookonchain estimating the offloaded volume at 1,637 BTC worth roughly $102.3 million, while CoinDesk notes total proceeds reached $104.73 million from an average sale price of $63,957 per coin. The last purchase the company reported was on June 22, when it bought 520 BTC, and the firm has notably not bought Bitcoin in over five weeks.
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The recent divestment brought Strategy's total holdings down to 842,138 BTC, according to SEC filings and blockchain data. Despite these sales, the firm retains its status as the world's largest corporate bitcoin holder by a wide margin, commanding more than 4% of the total supply that will ever exist. The company's treasury dashboard shows its bitcoin reserve represents approximately 4.01% of all BTC that will ever exist. The cumulative stack was acquired for $63.51 billion at an average price of $75,419 per bitcoin, and data shared by Lookonchain indicates that at current prices the company's stash is valued at roughly $52.65 billion.
Michael Saylor addressed the financial maneuvers on X:
"Strategy increased its USD Reserve by $250M and repurchased $81M of STRC,"
Michael Saylor, Strategy, via U.Today
Saylor further explained on X that the moves increased USD duration by 57 days to 2.3 years and tightened STRC's BTC credit by 5 bps, emphasizing that the sales form part of a broader treasury management strategy rather than a retreat from the company's foundational long-term bitcoin thesis.
The preferred stock program remains a focal point for market observers. Over the weekend, the company announced it would maintain STRC's annual dividend rate at 12%, saying it does not intend to recommend a reduction until the shares trade consistently near their stated $100 value. Strategy repurchased 912,143 shares of STRC for $81.2 million over the course of the week, marking the second consecutive week of repurchases under the digital securities repurchase program. Coingape reported that Strategy used $52.4 million in proceeds from the bitcoin sales to fund dividend payments on the STRC stock and $52.3 million in proceeds from the sale to buy back STRC shares.
Concurrently, Strategy lifted its USD reserve by $250 million, bringing the total cash cushion to $4 billion. The company noted that this amount includes expected cash proceeds from shares sold under Strategy's at-the-market program that had not yet settled as of such date. Furthermore, Coindesk reported total common stock sales raised $290.6 million.
Market reaction to the developments has seen MSTR common stock decline amid broader crypto market pressures, trading down alongside a weekend decline in the price of bitcoin to $62,500. CoinGape reported that the Strategy common stock was trading at around $92, while CoinDesk noted MSTR was lower by 1.9% pre-market alongside the weekend bitcoin drop. CoinGecko data showed bitcoin down around 1% over a 24-hour period.
As corporate treasury management evolves alongside broader market conditions, investors continue to monitor the intersection of equity buybacks, preferred stock yields, and digital asset reserves.