Strategy Sells 1,690 Bitcoin, Raises $653.1 Million, Boosts USD Reserve to $4.65B

Strategy sold 1,690 bitcoin for approximately $108.6 million between Aug. 3 and Aug. 9, and it simultaneously raised $653.1 million by selling 6.59 million common shares.

“sold 1,690 bitcoin and an additional $653.1 million from the sale of 6.59 million shares of common stock”

CoinDesk

CoinDesk said the company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.

@coindesk

Arkham reported that Strategy directed $650 million of the proceeds from its common-stock sales to its USD reserve, lifting the balance to $4.65 billion as of Aug. 9.

CoinDesk added that the bitcoin sales reduced Strategy’s holdings to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385, while the 1,690 bitcoin were sold at an average price of $64,262, net of fees and expenses.

Strategy repurchased STRC preferred shares after the bitcoin liquidation, with CoinDesk stating it used the bitcoin sale proceeds to repurchase 1,152,020 shares of STRC for $108.6 million.

TechStock² reported that the company allocated $650 million from equity proceeds to its dollar reserve and that STRC repurchases were backed by bitcoin proceeds.

Arkham

Futu牛牛 said Strategy sold $108.6 million worth of Bitcoin during the seven days ended August 9, reduced its common stock holdings by 6.6 million shares, raised approximately $653 million in cash, and repurchased $108.6 million worth of Stretch preferred shares.

In the same period, TechStock² said Strategy’s dollar reserves climbed 24% from $3.75 billion on July 26 to $4.65 billion as of August 9, while it retained 840,447 bitcoin acquired for a total of $63.36 billion.

TechStock² said the focus for investors shifted to additional issuance, noting that Strategy maintained roughly $22.04 billion in MSTR selling capacity as of August 9 and also held $785.2 million for preferred share repurchases and $1 billion reserved for MSTR buybacks.

“Additional ATM sales risk diluting common shareholders”

TechStock²

TechStock² also framed risks around dilution and price moves, warning that “Additional ATM sales risk diluting common shareholders” and that “A significant drop in bitcoin would decrease the value of the treasury.”

CoinDesk reported that following the latest transactions, Strategy has $785.2 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program.

Arkham added that under its Digital Credit Capital Framework, Strategy authorized a $1 billion repurchase program for its digital credit securities and an additional $1 billion common stock buyback, while restricting its fiat reserve to preferred stock dividends and interest payments only.