Morning Minute: Saylor's Strategy Sells Bitcoin for Second Week in a Row
Summary
Strategy sold 1,690 BTC last week for $108.6 million, its third straight week of Bitcoin sales and at a loss versus its cost basis. Holdings fell to 840,447 BTC, with no purchases since June. Sale proceeds went to buy back STRC preferred stock, which recovered to about $95. Strategy also sold $653.1 million of MSTR common stock, lifting cash reserves to $4.65 billion. That cash now covers about 2.7 years of dividend and interest obligations. Despite heavy dilution and BTC sales, MSTR has stabilized around $100 after rebounding from late-June lows. The setup suggests further BTC sales may continue until STRC returns to par.
