Bitcoin treasury company Strategy sold approximately $263.5 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 2,732,318 MSTR shares between July 13 and July 19, 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 $225 million to $3.225 billion as of July 19. Strategy also said it did not purchase any shares under its share repurchase programs during the period.
Strategy has therefore retained its bitcoin holdings at 843,775 BTC — worth around $54.7 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 $9 billion of paper losses at current prices.
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