Strategy Cuts Bitcoin Holdings by 1,690 BTC, Boosts Cash Reserves

Strategy has lifted its U.S. dollar reserve to $4.65 billion after selling 1,690 BTC and raising additional capital through a common-stock offering. Its total Bitcoin holdings now stand at 840,447 BTC.

The company disclosed Monday that it received $108.6 million from the sale of 1,690 Bitcoin last week. It also brought in $653.1 million by issuing 6.59 million shares of its common stock.

Strategy used the entire $108.6 million from the Bitcoin sale to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC.

The latest disposal lowered the company’s Bitcoin holdings to 840,447 BTC. Strategy has spent $63.36 billion accumulating its current holdings, resulting in an average acquisition cost of $75,385 per Bitcoin. The 1,690 BTC sold last week fetched an average of $64,262 per coin after fees and expenses.

Of the $653.1 million raised through the common-stock sale, $650 million was transferred to Strategy’s U.S. dollar reserve, which reached $4.65 billion as of Aug. 9. The remaining $3.1 million was retained as cash.

Following the transactions, Strategy has $785.2 million still available under its preferred-stock repurchase program and another $1 billion authorized for MSTR common-stock buybacks.

MSTR and STRC both rose about 0.5% in premarket trading Monday, while Bitcoin remained around $65,000.

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