Strategy sold 1,690 BTC for $108.6 million and added $650 million to its USD reserve, which reached $4.65 billion as STRC buybacks remain a key focus.
Michael Saylor’s Strategy sold another 1,690 BTC for $108.6 million last week, while raising $653.1 million through MSTR shares. Most of that cash went into its U.S. dollar reserve, which has now reached a record $4.65 billion.
The latest move shows that cash management and STRC buybacks are now taking priority over adding more Bitcoin.
Strategy sold 1,690 Bitcoin between August 3 and August 9 at an average price of $64,262 per BTC, according to an SEC filing. The sale reduced Strategy's Bitcoin holdings to 840,447 BTC.
The company acquired this Bitcoin for approximately $63.36 billion, resulting in an average purchase price of $75,385 per BTC, including fees and other costs. At current prices, Strategy's Bitcoin holdings are worth around $54.7 billion, meaning the company is sitting on about $8.7 billion in paper losses.
Still, Strategy remains one of the biggest corporate Bitcoin holders in the world. Its holdings represent around 4% of Bitcoin's total supply of 21 million.
Unlike earlier periods when Strategy was mainly known for adding BTC to its balance sheet, the latest sale shows that the company is now using Bitcoin as part of a wider treasury plan.
Strategy also sold 6,585,682 MSTR shares last week, raising around $653.1 million. The company used $650 million of that money to increase its U.S. dollar reserve. As of August 9, the reserve stood at $4.65 billion, its highest level so far.
The remaining funds, along with the Bitcoin sale proceeds, helped Strategy repurchase 1,152,020 shares of STRC, its preferred stock.
The move gives the company more cash to manage its financial needs while also supporting its preferred stock strategy.
The latest Bitcoin sale was directly linked to Strategy's STRC buyback plan. STRC had fallen below $75 in late June but has since recovered to above $94.66 as Strategy works to move the preferred stock closer to its $100 par value.
Under its new Digital Credit Capital Framework, Strategy has limited its USD reserve to areas such as preferred stock dividends and interest payments. The company has also approved a $1 billion buyback program for its digital credit securities, with STRC getting the initial focus.
Strategy has separately approved another $1 billion common stock buyback program.
This makes STRC a growing part of the company's capital strategy, rather than Bitcoin purchases being its only major use of funds.
Strategy's latest moves do not mean the company has abandoned Bitcoin. Instead, the company has given itself more ways to raise cash when needed. Its BTC Monetization Program has been expanded to allow up to $5 billion in Bitcoin sales.
The company also still has around $22 billion available under its MSTR at-the-market share sale program, giving it another major source of funding.
Strategy Executive Chairman Michael Saylor also addressed the recent Bitcoin sales after the company began selling BTC.
"When I say 'Never Sell Your Bitcoin,' I speak as one saver to another. I have never sold mine." "Not one satoshi. Strategy is a public company, not my wallet."
For Strategy, Bitcoin is still the core asset on its balance sheet. But the latest transactions show that the company is now willing to use part of that Bitcoin position when it helps manage its broader finances.
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