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Strategy offloads 1,638 Bitcoin, sells MSTR shares as USD reserves reach $4B
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FXStreet Forex & Commodities News
Strategy (MSTR) sold 1,638 Bitcoin (BTC) last week, generating approximately $104.73 million, while continuing sales of its Class A Common Stock (MSTR), according to a Form 8-K filing with the Securities and Exchange Commission (SEC) on Monday.
The company stated that it allocated $52.4 million of the Bitcoin sale proceeds toward preferred stock dividend payments.
Strategy boosts USD reserve to $4 billion through Bitcoin, MSTR salesStrategy also sold approximately 3.01 million MSTR shares, generating $290.6 million in net proceeds.
The reserve is designed to support dividend payments on preferred stock and interest obligations on the company's outstanding debt.
The company has continued using its capital markets programs to support its Bitcoin strategy while maintaining liquidity for preferred dividends and debt obligations.