Strategy Sells 1,690 Bitcoin to Fund Preferred Share Repurchase and Boost Cash Reserves

The company converted digital assets and common equity into $4.65 billion in cash and retired over one million preferred shares in transactions disclosed August 10.

Strategy sold 1,690 Bitcoin for $108.6 million between August 3 and August 9, executing the disposal at an average price of $64,262 per coin to fund the repurchase of 1,152,020 shares of its variable-rate preferred stock, STRC. The firm detailed these movements in a Form 8-K filed with the Securities and Exchange Commission, specifying that $109 million of the proceeds were allocated directly to retiring the preferred securities. This transaction follows a second-quarter loss of $8.32 billion reported on August 3, where I noted the company had reduced holdings to 842,138 BTC while raising cash reserves to $4 billion; the record has since moved to 840,447 BTC remaining and a USD reserve balance of $4.65 billion as of August 9. [4][10]

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