Strategy Sells More Bitcoin Amid Shift in Corporate Priorities
MicroStrategy, led by Michael Saylor, has sold an additional 1,638 Bitcoin at $63,957 per coin, generating approximately $104.7 million in proceeds. The company also issued around 3 million new shares of common stock to raise another $290.6 million, with a significant portion allocated into its USD Reserve fund, now totaling about $4 billion. This move marks a strategic pivot from the firm's earlier focus on accumulating Bitcoin as an investment vehicle toward maintaining financial flexibility and stabilizing preferred securities like STRC (NASDAQ:STRC), which currently trades at around $90.60—below its $100 par value. Management has indicated it will not resume significant Bitcoin purchases until these preferred shares recover closer to their original price. The shift reflects a broader transformation of Strategy from being primarily seen as a Bitcoin proxy into a more complex financial engineering entity, with growing obligations tied to dividends and capital structure management.