Key facts
- MicroStrategy sold 3,588 bitcoin for $216 million.
- The sale was to fund preferred stock dividends and replenish its dollar reserve.
- MicroStrategy's remaining bitcoin holdings are 843,775 BTC.
- The company has a $2.55 billion U.S. dollar reserve.
- The sale occurred in two tranches between June 29 and July 5.
MicroStrategy, the largest corporate holder of Bitcoin, has sold 3,588 BTC for approximately $216 million to fund dividend payments on its preferred stock and replenish its U.S. dollar reserve. The sale occurred in two tranches between June 29 and July 5, reducing the company's total Bitcoin holdings to 843,775 BTC. The firm's U.S. dollar reserve remained at $2.55 billion as of July 5. The company's perpetual preferred stock, STRC, traded below its $100 par value in pre-market trading, potentially limiting MicroStrategy's ability to raise funds through STRC sales and possibly forcing it to increase nominal dividend rates.