Bitcoin treasury company Strategy sold approximately $2 billion 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 18,261,118 MSTR shares between Aug. 17 and Aug. 23, but did not buy or sell any bitcoin during the period.
Some $136.4 million in net proceeds from the MSTR sales were used to fund repurchases of Strategy's STRC preferred stock, $300 million were used to increase its USD Reserve to $5.1 billion, and the remaining $1.59 billion were used to establish a new "USD Cash" liquidity account, per the filing.
"USD Cash is a separately designated pool of U.S. dollar liquidity that the Company may retain for future deployment for general Bitcoin Treasury Company purposes, which may include acquiring bitcoin, paying declared cash dividends on Strategy's preferred stock and interest on its outstanding indebtedness, repurchasing Strategy's MSTR Stock or preferred stock, repaying, repurchasing or redeeming Strategy's outstanding convertible notes, increasing the USD Reserve, and other similar Bitcoin Treasury Company purposes," the firm said.
Strategy's bitcoin holdings therefore remain at 840,447 BTC — worth around $65.8 billion — bought at an average price of $75,385 per bitcoin for a total cost of around $63.4 billion, including fees and expenses.
