Home Strategy sells 1,690 Bitcoin, raises $653 million through MSTR shares

Strategy sells 1,690 Bitcoin, raises $653 million through MSTR shares

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Strategy sells 1,690 Bitcoin, raises $653 million through MSTR shares
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Strategy, the world’s largest corporate holder of Bitcoin, sold 1,690 BTC last week and raised $108.6 million from the transaction, according to a company filing on Monday. The Bitcoin was sold at an average price of $64,262 after fees and expenses. The company used the proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.

Strategy sells 1,690 Bitcoin, raises $653 million through MSTR shares

Source: assets.contentstack.io

Following the sale, Strategy’s Bitcoin holdings stood at 840,447 BTC. The company said it had acquired the holdings for a total of $63.36 billion, at an average purchase price of $75,385 per Bitcoin.

Separately, Strategy raised $653.1 million through the sale of 6.59 million shares of its MSTR common stock. About $650 million of the proceeds was added to its USD reserve, taking the reserve to $4.65 billion as of August 9. The remaining $3.1 million was added to cash.

Strategy has $785.2 million left under its preferred-stock repurchase programme and $1 billion available under its MSTR common-stock repurchase programme.

 

 

 

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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