Strategy, the largest corporate holder of Bitcoin, sold 3,588 BTC over the past week for around $216 million, according to a Monday disclosure. The proceeds funded dividends on its preferred shares and topped up its U.S. dollar reserve, which stood at $2.55 billion as of July 5.
The Michael Saylor-led firm, long known for buying and holding Bitcoin, has trimmed its stack to 843,775 BTC, carried at a cost basis of $63.7 billion, or about $75,476 per coin. With Bitcoin trading near $60,000, well below that, Strategy booked an $8.32 billion loss on its digital assets for the second quarter, almost all of it unrealized.
Strategy said a BTC Monetization Program it unveiled on June 29, which lets it raise up to $1.25 billion by selling Bitcoin, remained fully available as of July 5. The firm's latest move follows its adoption of a capital management framework last week, in which it signaled that it could sell $1.25 billion worth of Bitcoin to shore up cash for dividend payments under the new plan, while authorizing $2 billion in stock buybacks.
At the same time, Strategy hiked the annual for Stretch (STRC) to 12% and expanded its so-called USD Reserve to $2.55 billion. The company said then that it would have enough resources to cover 26 months of dividend costs if it also tapped its Bitcoin stash.
On Sunday, Executive Chairman and co-founder Michael Saylor referred to Bitcoin as “Digital Energy,” while sharing a chart of the company’s latest purchases. The following morning, he predicted on X that changes in Bitcoin’s codebase won’t be as impactful on the digital asset’s evolution as deepening capital markets and an expansion of digital credit.
This is a developing story and will be updated.
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