Strategy Executes Pre-Announced Bitcoin Sales Under Monetization Program

Strategy sold 3,588 bitcoin between June 29 and July 5 for $216 million under a bitcoin monetization program announced on June 29. The company applied the proceeds to dividend payments on its digital credit securities and increased its U.S. dollar cash reserve to $2.55 billion as of July 5.

The firm now holds 843,775 bitcoin carried at a cost basis of $63.7 billion, or about $75,476 per coin. It recorded an $8.32 billion loss on digital assets for the second quarter, almost entirely unrealized. The monetization program permits sales of up to $1.25 billion and remained fully available after the latest transaction.

The 3,588 bitcoin sold represented 0.42 percent of Strategy’s total holdings. Shares of Strategy fell 2 percent in pre-market trading on July 6 to $98.88. The stock has declined 26 percent over the past month, while bitcoin rose 3.7 percent in the same period.

Bitcoin traded near $62,900 before U.S. markets opened on July 6 after reaching $63,700 over the weekend, according to CoinGecko data.