Bitcoin treasury company Strategy sold approximately $466.7 million worth of MSTR shares last week, according to an 8-K filing with the Securities and Exchange Commission on Monday.
The firm said it sold 4,818,781 MSTR shares between July 6 and July 12, buy did not buy or sell and bitcoin during the period. Proceeds from the MSTR sales were used to boost Strategy's USD reserve by $450 million to $3 billion as of July 12.
Strategy has therefore retained its bitcoin holdings at 843,775 BTC — worth around $53 billion — bought at an average price of $75,476 per bitcoin for a total cost of around $63.7 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor.
Strategy's holdings are still equivalent to around 4% of bitcoin's 21 million supply cap, but carry around $10.7 billion of paper losses at current prices.
Bitcoin traded flat at around $63,000 on Monday immediately following the filing, per The Block's BTC price page. MSTR shares are currently down 2.6% in pre-market trading.
