Bitcoin treasury company Strategy (MSTR) sold 1,638 BTC for approximately $104.7 million last week, according to an 8-K filing with the Securities and Exchange Commission on Monday.
The firm said it sold the assets between July 27 and Aug. 2 at an average price of $63,957 per bitcoin.
Strategy has therefore reduced its total holdings to 843,138 BTC — worth approximately $52.6 billion — bought at an average price of $75,419 per bitcoin for a total cost of around $63.5 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor.
Proceeds from the sales were used to fund payment of distributions on preferred stock and to fund repurchases of STRC.
Strategy also sold 3,011,361 MSTR shares for approximately $290.6 million during the period. As of Aug. 2, $22.7 billion worth of MSTR shares remain available for issuance and sale under that program, the firm said. The proceeds were used to increase Strategy's USD Reserve by $250 million to $4 billion and repurchase $28.9 million of STRC stock. The remaining $11.7 million in MSTR proceeds were added to Strategy's cash balance.
