Key facts
- Michael Saylor hinted at a new Bitcoin strategy move by posting MicroStrategy's BTC portfolio tracker.
- MicroStrategy recently sold 3,588 BTC to fund dividend payments for preferred securities.
- The company's common and preferred stocks are trading below $100.
- MicroStrategy holds 843,775 BTC, purchased for approximately $64 billion.
MicroStrategy co-founder Michael Saylor has signaled a potential shift in the company's Bitcoin strategy, posting a tracker that highlights only purchases while omitting recent sales. This comes after the firm sold 3,588 BTC between June 30 and July to cover dividend payments for its preferred securities, marking its first significant sales since 2020.
The company's last Bitcoin acquisition was 520 BTC for $35 million in the week ending June 20. MicroStrategy currently holds a substantial 843,775 BTC, acquired at a total cost of nearly $64 billion.
Despite these transactions, MicroStrategy's common stock (MSTR) and preferred stock (STRC) remain below the $100 mark. The STRC stock, designed to trade at par value, is currently over 22% below $100, having recently hit an all-time low of around $76. Bitcoin critic Peter Schiff weighed in, questioning the financial performance of Saylor's Bitcoin investments and the costs associated with debt and dividends.