Key facts
- MicroStrategy sold 1,638 Bitcoin.
- The Bitcoin sale generated $104.7 million.
- MicroStrategy raised $290.6 million through stock issuance.
- Proceeds from stock issuance are for preferred stock dividends and repurchases.
- Proceeds from stock issuance will increase USD reserves.
- The sales are part of a pre-announced capital management program.
- CEO Michael Saylor defended the sales strategy.
- MicroStrategy had not purchased new Bitcoin for five weeks prior to the sale.
- The company reported a quarterly loss.
- Saylor distinguished company sales from personal holdings.
MicroStrategy has sold 1,638 Bitcoin, valued at $104.7 million, as part of a planned capital management program. CEO Michael Saylor defended the decision, stating it was not a reaction to losses but a pre-announced strategy. He emphasized the difference between the company's treasury operations and his personal Bitcoin holdings, reaffirming MicroStrategy's enduring belief in Bitcoin's long-term value.