Strategy sold 1,638 Bitcoin and issued about 3 million new shares last week, directing the proceeds into a $4 billion cash reserve instead of buying more Bitcoin. Its latest SEC filing shows management won't resume purchases until its preferred stock recovers toward its $100 par value from its current $90.60 price.
Strategy sold 1,638 Bitcoin last week at an average price of $63,957, generating $104.7 million in proceeds, according to its latest SEC filing. The company directed the money toward a growing cash reserve instead of buying more Bitcoin, extending a shift away from its original accumulation strategy.
Bitcoin Sale Wasn't Tied to a Price Spike
Bitcoin currently trades around $63,167, so the sale wasn't driven by a sudden spike in prices or an effort to lock in outsized gains.
The filing also shows Strategy sold about 3 million shares of common stock, raising $290.6 million. Of that amount, $250 million went into the company's USD Reserve, which now totals approximately $4 billion, pointing to a company focused on liquidity rather than accumulation.
But the company now routinely reduces its Bitcoin holdings while raising equity capital to strengthen its balance sheet, a shift from the pure accumulation strategy that once defined it.
Preferred Stock Recovery Comes First
Strategy's attention has shifted toward its Variable Rate Series A Perpetual Stretch Preferred Stock, known by its ticker STRC. Keeping its value near the $100 par price matters because it supports future dividend payments and keeps the company's access to capital markets open.
STRC currently trades around $90.60, above its June low of $70.05, but still below the level where management has indicated it would consider resuming meaningful Bitcoin purchases. Bitcoin itself has become secondary to that goal.
Each additional preferred security, share issuance, and dividend obligation pulls Strategy further from a pure Bitcoin proxy and closer to a company defined by its financing structure.
Source: 24/7 Wall St.
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