Strategy Sells 1,690 BTC as MSTR Share Sale Raises $653M

Strategy has boosted its U.S. dollar reserve to $4.65 billion while trimming its Bitcoin holdings to 840,447 BTC.

Bitcoin treasury company Strategy (MSTR) generated $108.6 million from selling 1,690 BTC last week and raised another $653.1 million through the sale of 6.59 million common shares, according to a filing released Monday.

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

After the transaction, Strategy’s Bitcoin holdings fell to 840,447 BTC. The company acquired those coins for a total of $63.36 billion, putting its average purchase cost at $75,385 per Bitcoin. The 1,690 BTC sold last week fetched an average of $64,262 per coin after fees and expenses.

Strategy allocated $650 million from its common-stock offering to its U.S. dollar reserve, which stood at $4.65 billion as of Aug. 9. The remaining $3.1 million was added to its cash holdings.

The company now has $785.2 million available under its preferred-stock buyback program and another $1 billion remaining under its MSTR common-share repurchase authorization.

MSTR and STRC were each trading about 0.5% higher in Monday’s premarket session, while Bitcoin remained near $65,000.