Key facts
- Strategy sold $466.7 million in MicroStrategy shares.
- Strategy's cash reserves increased to $3 billion.
- Strategy maintained its holdings of 843,775 Bitcoin.
- The company has not purchased Bitcoin for three consecutive weeks.
- Strategy generated $215 million from Bitcoin sales since July 22.
Strategy has sold $466.7 million in MicroStrategy (MSTR) shares, increasing its cash reserves to $3 billion. The company has forgone acquiring Bitcoin for the third consecutive week, maintaining its existing holdings of 843,775 BTC. This move underscores Strategy's commitment to fortifying its balance sheet and meeting its financial obligations, including preferred stock dividend payments and debt interest. The company's capital markets activity was entirely focused on bolstering its cash cushion, which now provides over 20 months of coverage for its annual obligations. While Strategy has sold approximately $215 million in Bitcoin since July 22, its remaining stockpile is valued around $53 billion, though it remains significantly underwater based on its average purchase price. The company's stock price fell 4% following the announcement.