Strategy sold 1,690 BTC for $108.6 million to repurchase STRC shares, while MSTR sales helped increase its USD reserve to $4.65 billion.
BTC$83,658.00-2.90%According to an SEC filing, Strategy sold 1,690 BTC for $108.6 million last week. The company sold the Bitcoin at an average price of about $64,262 per BTC.
Following the sale, Strategy’s Bitcoin holdings fell to 840,447 BTC. The company’s average purchase price remains around $75,385 per Bitcoin.
Strategy said it used the net proceeds from the Bitcoin sale to buy back its STRC preferred shares.
The company repurchased 1,152,020 STRC shares for $108.6 million. This marks the second consecutive week in which Strategy has sold Bitcoin to support its STRC strategy.
Strategy previously sold 1,638 BTC to help fund STRC share buybacks and dividend payments.
Strategy’s STRC stock has recovered strongly from its June low of around $74.
The preferred stock was trading near $95, according to TradingView data, putting it closer to its $100 par value. STRC has also gained more than 10% over the past month.
The continued buybacks appear to be helping STRC recover toward its target price. However, investors will be watching whether Strategy continues selling Bitcoin if STRC remains below $100.
Strategy is also increasing its cash position through MSTR share sales.
The SEC filing shows that the company sold 6.585 million MSTR shares for $653.1 million through its ATM program.
Strategy added approximately $310 million from the net proceeds to its USD reserve, taking the company’s total reserve to around $4.65 billion.
The company also indicated that it could sell additional MSTR shares through its new $21 billion offering after the existing ATM program is exhausted.
This gives Strategy additional financial flexibility as it manages its Bitcoin holdings, STRC obligations and future capital needs.
Although Strategy remains one of the largest corporate Bitcoin holders, the latest sale means its BTC holdings have declined for the second consecutive week.
The company now holds 840,447 BTC, compared with more than 843,000 BTC before the recent sales.
The sale also comes as Bitcoin continues to struggle around the $65,000 level.
Bitcoin's inability to break higher, combined with uncertainty around US-Iran tensions and broader macroeconomic conditions, could continue to influence Strategy's stock price.
MSTR was trading below the $100 psychological level in premarket trading, according to TradingView data.
Strategy's latest move highlights the company's changing approach to managing its Bitcoin treasury.
Instead of relying only on new capital to support its preferred stock, Strategy is now selling part of its Bitcoin holdings to fund STRC share buybacks.
At the same time, the company is using MSTR share sales to strengthen its USD reserve.
The key levels to watch are $100 for STRC, $65,000 for Bitcoin and $100 for MSTR. A sustained recovery in these assets could improve Strategy's position, while continued weakness could put more pressure on its treasury strategy.
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