Key facts
- MicroStrategy sold 1,690 bitcoin for $108.6 million.
- The proceeds were used to repurchase 1,152,020 shares of preferred stock.
- MicroStrategy raised $653.1 million through MSTR common stock sales.
- $650 million from the stock sale was added to the company's USD reserve.
- MicroStrategy's bitcoin holdings now stand at 840,447 BTC.
MicroStrategy has sold 1,690 bitcoin for $108.6 million, using the proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock (STRC). The company also raised $653.1 million through the sale of its common stock (MSTR), allocating $650 million of these funds to its U.S. dollar reserve, bringing the total to $4.65 billion. Following these transactions, MicroStrategy's bitcoin holdings have decreased to 840,447 BTC. The company stated that selling bitcoin is part of its plan to grow its cash buffer and that its long-term posture toward bitcoin remains unchanged. MicroStrategy began buying bitcoin in August 2020 and remains the largest corporate holder of the digital asset.