Strategy Sells 1,690 BTC and MSTR Shares to Raise $653M

Strategy has expanded its U.S. dollar reserves to $4.65 billion while reducing its Bitcoin holdings to 840,447 BTC following a series of capital transactions last week.

The company reported Monday that it sold 1,690 Bitcoin for $108.6 million. At the same time, Strategy raised $653.1 million through the sale of 6.59 million common shares.

The $108.6 million generated from the BTC sale was used to repurchase 1,152,020 shares of Strategy’s variable-rate preferred stock, STRC.

After the sale, Strategy’s Bitcoin stash stood at 840,447 BTC. The company has invested $63.36 billion in acquiring those holdings, translating to an average purchase price of $75,385 per Bitcoin. The coins sold last week were disposed of at an average price of $64,262 each after fees and expenses.

Strategy put $650 million from the common-stock offering into its U.S. dollar reserve, taking the balance to $4.65 billion as of Aug. 9. The remaining $3.1 million was added to its cash reserves.

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

MSTR and STRC each gained about 0.5% in Monday’s premarket session, while Bitcoin traded near $65,000.