Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares

Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares

Markets

Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares

The company increased its USD reserve to $4.65 billion while reducing its bitcoin holdings to 840,447 BTC

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James Van Straten

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Shaurya Malwa

51 мин. назад

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Strategy sold 1,690 bitcoin for $108.6 million and used the proceeds to repurchase 1.15 million STRC shares.

The company raised $653.1 million through MSTR stock sales, directing $650 million to its USD reserve.

Bitcoin treasury firm Strategy (MSTR) had raised $108.6 million last week through the sale of 1,690 bitcoin and an additional $653.1 million from the sale of 6.59 million shares of common stock, according to a

Monday filing

.

The company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.

The bitcoin sales reduced Strategy’s holdings to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385. The 1,690 bitcoin were sold at an average price of $64,262, net of fees and expenses.

Strategy directed $650 million of the proceeds from its common-stock sales to its USD reserve, lifting the balance to $4.65 billion as of Aug. 9. The remaining $3.1 million was added to the company’s cash balance.

Following the latest transactions, Strategy has $785.2 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program.

MSTR and STRC are both up 0.5% in Monday pre-market trading, with bitcoin changing hands near $65,000.

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