Strategy Sells ~$105M in Bitcoin to Fund Preferred Stock Purchase and Dividends
MicroStrategy (MSTR:NASDAQ), a company known for its large bitcoin treasury, sold approximately $104.73 million worth of bitcoins during the prior week. The sale involved 1,638 bitcoin units at an undisclosed price per coin. This move is part of the firm's strategy to raise capital by liquidating portions of its cryptocurrency holdings in order to fund preferred stock purchases and support dividend payments. The company’s shares were down slightly before market open on Monday, trading at $92.21 with a 1.15% decline compared to previous levels. The decision reflects MicroStrategy's ongoing efforts to balance its financial obligations while managing the volatility of its bitcoin assets.
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