Strategy Sells $105M in Bitcoin as Dollar Reserve Reaches $4 Billion
In the week ending August 2, Strategy sold 1,638 BTC for approximately $104.7 million to fund dividends and share repurchases under its capital framework program. The company reduced its Bitcoin holdings from 843,775 to 842,138 coins at an average price of $63,957 per coin. Proceeds were allocated with half used for preferred stock dividends and the other portion funding a share repurchase totaling $81.2 million. This marks Strategy's second buyback under its $1 billion program announced on June 29, extending its USD duration by 57 days to 2.3 years while tightening Bitcoin credit spreads slightly. The firm has not added new Bitcoin since June and instead raised capital through the sale of MSTR shares last week for $290.6 million net, boosting its dollar reserve to $4 billion. Strategy's Bitcoin treasury is now down by about 5,225 BTC from a peak in June, representing a reduction of less than one percent. The company has shifted away from its previous 'never sell' stance on Bitcoin and outlined conditions under which it will dispose of holdings.
Topics: Bitcoin capital management dividend payments stock buybacks