MicroStrategy Sells 3,588 Bitcoin to Cover Obligations Without Issuing New Shares

The company moved the coins for $216 million as it met preferred stock distributions amid softer prices.

MicroStrategy transferred 3,588 Bitcoin out of its treasury in a single transaction sized far larger than the small periodic sales it has executed in recent weeks. The proceeds replenish cash reserves and meet dividend commitments on its convertible preferred stock, sidestepping any need to issue additional equity.

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