Strategy (MSTR) sold 3,588 bitcoins for approximately $216 million last week, reducing its total holdings to 843,775 BTC, according to an SEC filing Monday.
The company said proceeds from bitcoin sales would be used to fund distributions on its preferred shares and replenish the portion of its U.S. dollar reserve used for those payments. As of July 5, the US dollar reserve stood at $2.55 billion.
The latest sales came at an average price of around $60,000 per bitcoin and are significantly higher than the 32 bitcoins the company sold about a month ago, which sent cryptocurrency prices tumbling. Strategy currently holds 843,775 BTC acquired for approximately $63.69 billion, representing an average purchase price of $75,476 per bitcoin.
Strategy also said it did not sell any shares under its equity program during the week ended July and did not repurchase any shares under its repurchase programs. The company added that the total capacity of $1.25 billion under its recently announced BTC monetization program remains available.
Strategy stocks are down 2% in premarket trading and Bitcoin gave up much of its weekend gain, trading at $61,900 from $62,900 before the announcement.
