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Strategy Sells 3,588 Bitcoin, Raising Dollar Reserve to $3 Billion While Holdings Fall to 843,775 BTC
Strategy has not bought bitcoin since June 22 and sold 3,588 BTC in two transactions to build a $3 billion U.S. dollar reserve. The reserve covers 20.4 months of preferred-stock dividends and debt interest totaling $1.76 billion annually.
Jul 13, 11:27 AM·1m read1 source
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Strategy increased its U.S. dollar reserve to approximately $3 billion on July 13 after selling bitcoin holdings, CoinDesk reported. The company has not purchased any bitcoin since June 22, when it acquired 520 BTC for about $35 million.
During the week ending July 5, Strategy sold 3,588 BTC across two transactions. It sold 1,363 BTC for roughly $80.8 million on June 30 and an additional 2,225 BTC for $135.2 million afterward. The sales produced about $216 million in proceeds and lowered holdings to 843,775 BTC.
The $3 billion reserve provides 20.4 months of coverage for annualized preferred-stock dividends and debt interest of roughly $1.76 billion. Strategy stated it can sell up to $1.25 billion worth of bitcoin to fund dividend payments. The reserve stood at $2.55 billion immediately after the sales.
STRC trades at approximately $87, down 0.5 percent on July 13, after recovering from a late-June low near $70. MSTR’s multiple to net asset value on an enterprise basis stands at about 1.02.
