Strategy Sells $105M in Bitcoin to Boost Dollar Reserves
Strategy Inc., a publicly traded company focused on cryptocurrency, sold approximately $104.73 million worth of Bitcoin last week at an average price of $63,957 per token. The proceeds were used for preferred stock dividends and repurchases, as part of the firm's ongoing capital management strategy aimed at strengthening its financial position. The company also issued 3.01 million common shares through its at-the-market program, generating an additional $290.6 million in net proceeds. These funds contributed to a significant increase in Strategy’s U.S. dollar reserve, which now stands at $4 billion—up from around $2.55 billion since the launch of its Digital Credit Capital Framework. The Bitcoin sales and share issuance reflect an active approach by CEO Phong Le to shift capital strategy toward liquidity management rather than one-way stock issuance.
Topics: Bitcoin cash reserves preferred stock repurchase stock sales