Strategy Trims Bitcoin Holdings After Five Weeks of No Buying

Strategy reported the sale of 1,638 Bitcoin between July 27 and August 2. The company offloaded the holdings at an average price of $63,957 per coin, bringing in approximately $104.7 million. This move ends a five week period where the firm avoided adding to its massive stash.

The proceeds from this sale were split evenly to cover preferred stock dividends and buybacks for the firm's preferred shares. Alongside the Bitcoin sale, the company raised $290.6 million by selling over 3 million shares of its common stock, bolstering its cash reserves to roughly $4 billion.

Despite these recent sales, Strategy remains the largest corporate Bitcoin holder in the world with 842,138 tokens on its balance sheet. Leadership maintains that the company remains a long term buyer of the asset. Investors will be watching to see if the firm returns to its aggressive accumulation strategy in the coming months.