Strategy just sold 1,638 Bitcoin for $104.7 million in early August, cutting its reserve down to 842,138 coins. The sale landed at an average price of $63,957 per Bitcoin, according to SEC filings. The company split the proceeds straight down the middle, putting $52.4 million toward preferred share dividends and another $52.3 million into buying back its own stock.
This marks a sharp turn from the old playbook. For years Strategy held firm on "never selling," but that changed in May when the company needed cash for dividend payments. Since then, the floodgates have opened. The firm has now unloaded roughly $321 million in Bitcoin under a new capital framework approved in June that lets it sell up to $1.25 billion worth depending on market conditions. July alone saw $216 million in Bitcoin sales, followed by this latest August dump.
The buyback program is the real story here. Strategy authorized a $1 billion share repurchase in late June and has already burned through about $106 million of it. In this single week, the company picked up 912,143 of its own shares for $81.2 million, with another $28.9 million still earmarked for common stock purchases. That leaves roughly $893.8 million left on the authorization.
Meanwhile, the company's total Bitcoin spending sits at $63.51 billion across all holdings, with an average cost basis of $75,419 per coin. Strategy has gone dark on new Bitcoin purchases since June, choosing instead to let its cash reserves build while the Bitcoin stash shrinks. The USD reserves now stand at $2.55 billion.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk, and past performance does not guarantee future results.
