CumberlandThe company trimmed bitcoin holdings by 1,638 coins, while raising $290.6 million with sales of common stock.
Strategy sold another $105 million of bitcoin last week, repurchased $81.2 million of STRC
The company trimmed bitcoin holdings by 1,638 coins, while raising $290.6 million with sales of common stock.
Strategy sold 1,638 BTC, reducing its holdings to 842,138 BTC, and issued 3.01 million MSTR shares to raise $290.6 million. The proceeds funded preferred dividends, added $250 million to the USD reserve and helped repurchase 912,143 STRC shares for $81.2 million.
Strategy (MSTR) raised $104.73 million last week with the sale of 1,638 bitcoin, and raised an additional $290.6 million via the sale of common stock.
Alongside, the company repurchased 912,143 shares of its high-yielding preferred stock STRC for $81.2 million, according to an SEC filing Monday morning.
The bitcoin sales reduced Strategy’s holdings to 842,138 BTC, acquired for $63.51 billion at an average price of $75,419. The company lifted its USD reserve by $250 million, taking the total USD reserve to $4 billion.
The company announced over the weekend that it would maintain STRC’s annual dividend rate at 12%, saying it does not intend to recommend a reduction until the shares trade consistently near their stated $100 value.
MSTR is lower by 1.9% pre-market alongside a weekend decline in the price of bitcoin to $62,500. STRC is little changed.
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Why it matters:
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