Michael Saylor's Strategy Sold Another $105 Million In Bitcoin. It Boosted Its Cash Reserve And Bought Back STRC Shares

Strategy continued adjusting its capital structure last week by selling more Bitcoin, raising nearly $291 million through common stock sales and repurchasing STRC preferred shares while keeping its dividend rate unchanged. (Credit: MicroStrategy Official YouTube Channel)

Michael Saylor-led Strategy continued reshaping its balance sheet last week, selling another tranche of Bitcoin while raising fresh capital through stock sales and buying back millions of dollars worth of its preferred shares, according to a filing with the U.S. Securities and Exchange Commission (SEC).

The company disclosed Monday that it sold 1,638 Bitcoin between July 28 and Aug. 2, generating approximately $104.73 million in net proceeds. The transaction reduced Strategy's Bitcoin holdings to 842,138 BTC, which were acquired for a combined $63.51 billion at an average purchase price of $75,419 per Bitcoin, according to the SEC filing.