For years, Strategy had one of the easiest corporate capital allocation stories in America to explain: sell securities, buy Bitcoin, repeat. That story is now getting more complicated.
Strategy sold 3,458,866 shares of MSTR between August 10 and August 16 and raised $333.7 million in net proceeds. It bought no Bitcoin. It also sold no Bitcoin during the week. Instead, the entire haul went toward preferred-stock dividends, repurchasing STRC preferred shares and adding cash to the company's growing U.S. dollar reserve.
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