Strategy (MSTR), formerly known as MicroStrategy, raised $104.73 million last week through the sale of 1,638 bitcoin (BTC), according to an SEC filing submitted Monday morning. The sales represent a notable shift for a company that has spent years as an aggressive accumulator of bitcoin as a primary treasury reserve asset. The company also generated an additional $290.6 million through the issuance of common stock.

In conjunction with the bitcoin sales, Strategy repurchased 912,143 shares of its high-yield preferred stock, STRC, for $81.2 million. STRC is the company's perpetual strikable preferred stock product, which offers a dividend to investors distinct from its common equity.

Following the disposals, Strategy's bitcoin holdings declined to 842,138 BTC. The company reported that these holdings were acquired at a total cost of $63.51 billion, representing an average purchase price of $75,419 per bitcoin. With bitcoin trading at approximately $62,500, the company's cost basis sits above the current market price. Strategy remains one of the largest publicly traded corporate holders of bitcoin.

The company also increased its USD cash reserves by $250 million during the period, bringing its total USD reserve position to $4 billion, providing a substantial liquidity buffer alongside its digital asset holdings.

Over the weekend, Strategy announced that it would maintain STRC's annual dividend rate at 12%. The company stated that it does not intend to recommend a reduction in the dividend until STRC shares trade consistently near their stated $100 liquidation value.

In pre-market trading, MSTR shares were down approximately 1.9%, correlating with a weekend decline in the price of bitcoin to $62,500. STRC showed little change.

Source: CoinDesk