Strategy sells $334 million in MSTR shares, makes no bitcoin purchases or sales as USD reserve hits $4.8 billion
Quick TakeStrategy has sold 3.46 million MSTR shares for approximately $333.7 million, but did not buy or sell any bitcoin last week.The firms USD reserve balance rose nearly $150 million to $4.8 billion. Bitcoin treasury company Strategy sold approximately $333.7 million worth of MSTR shares last week, according to an 8-K filing with the Securities and Exchange Commission on Monday. The firm said it sold 3,458,866 MSTR shares between Aug. 10 and Aug. 16, buy did not buy or sell and bitcoin during the period. $52.4 million in net proceeds from the MSTR sales were used to fund dividends on Strategys STRC preferred stock, $132.2 million were used to fund repurchases of STRC under its Digital Credit Securities Repurchase Program, and $149.1 million were used to increase its USD reserve to $4.8 billion, the firm said. Strategy has therefore retained its bitcoin holdings at 840,447 BTC — worth around $53.4 billion — bought at an average price of $75,385 per bitcoin for a total cost of around $63.4 billion, including fees and expenses. Strategys holdings are still equivalent to around 4% of bitcoins 21 million supply cap, but carry around $10 billion of paper losses at current prices. Bitcoin traded flat on Monday immediately following the