Strategy Trims Bitcoin Holdings by $105M While Boosting STRC Share Repurchases

Strategy (MSTR) reduced its bitcoin holdings by 1,638 BTC last week while generating $104.73 million from the sale. The company also raised an additional $290.6 million through common stock offerings.

At the same time, Strategy bought back 912,143 shares of its high-yield STRC preferred stock for $81.2 million, according to a filing submitted to the U.S. Securities and Exchange Commission on Monday.

Following the bitcoin sales, Strategy’s total holdings declined to 842,138 BTC. The company acquired its bitcoin treasury for approximately $63.51 billion at an average purchase price of $75,419 per coin. The firm also increased its cash reserves by $250 million, bringing its total U.S. dollar reserve balance to $4 billion.

Over the weekend, Strategy said it plans to keep STRC’s annual dividend rate unchanged at 12%. The company added that it does not expect to recommend lowering the dividend unless the preferred shares trade consistently close to their $100 reference value.

MSTR shares were down 1.9% in pre-market trading as bitcoin prices fell over the weekend to around $62,500. STRC remained mostly unchanged.