Michael Saylor's Strategy sold 1,638 Bitcoins worth nearly $105 million between 27th July and 2nd August at an average selling price of $63,957 per token. Around $52.4 million of the proceeds were used to cover dividend payments on preferred stock, and another $52.3 million to repurchase the variable-rate preferred share STRC, which carries a 12% annual payout.
Strategy also raised over $290 million via the sale of 3.01 million Strategy shares, where $250 million was dedicated for the dollar reserve that now totals $4 billion. The news mounted pressure on BTC prices, which have been struggling to rebound after a historic decline from prices as high as $126,000 per token months earlier.
