Strategy Sells $105M Worth of Bitcoin to Fund Preferred Dividends
Strategy sold approximately 1,638 bitcoin for around $105 million last week. The proceeds will be used to pay preferred stock dividends and repurchase shares. After the sale, Strategy's remaining bitcoin holdings amount to about 842,138 coins valued at roughly $53 billion. The company also announced it had repurchased $81 million of its STRC preferred shares while increasing its USD Reserve by $250 million, raising total cash cushion to $4 billion. This move is part of a broader capital management framework adopted in late June that allows for bitcoin sales and the use of proceeds toward reserve building or share buybacks. Strategy's decision marks a shift from previous strategy where it largely avoided selling its bitcoin holdings. The company now aims at two-way flexibility, managing capital based on market conditions.