Strategy Sells Another 1,690 BTC as Capital Strategy Changes

According to an August 10 filing with the Securities and Exchange Commission, Strategy sold 1,690 BTC between August 3 and August 9 for $108.6 million, at an average price of $64,262 per BTC. Its holdings stood at 840,447 BTC as of Sunday, acquired for an aggregate $63.36 billion at an average cost of $75,385 per coin.

The Bitcoin proceeds did not go into Strategy’s growing cash reserve. Instead, the company used the $108.6 million to repurchase approximately 1.15 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC. Another $785.2 million remains available under its broader preferred-stock repurchase program.

It was Strategy’s second consecutive weekly Bitcoin sale. Between July 27 and August 2, the company sold 1,638 BTC for roughly $104.7 million at an average price of $63,957.

Strategy increased its USD Reserve by $650M and repurchased $109M of $STRC. This increas...