Strategy Sells $105M in Bitcoin as Dollar Reserve Hits $4B
Strategy sold 1,638 BTC for $104.7 million in the week ending Aug. 2, reducing holdings to 842,138 BTC. The coins sold at an average of $63,957, while the company’s overall Bitcoin cost basis is about $75,419 per BTC. Proceeds were split between funding preferred-stock dividends ($52.4 million) and repurchasing STRC shares ($52.3 million). The STRC buyback totaled $81.2 million for 912,143 shares, with the rest funded by common-stock sales. This was Strategy’s second buyback under a $1 billion repurchase program, leaving $893.8 million authorized. The company said the move extended USD duration by 57 days to 2.3 years and narrowed STRC’s Bitcoin credit spread by 5 basis points. It held STRC’s dividend rate at 12% annually. Strategy has now used $321 million of its $1.25 billion Bitcoin-sale capacity and has not added Bitcoin since June, instead building a $4.0 billion USD reserve to support dividend obligations.
