Strategy (MSTR) sold 3,588 bitcoins for approximately $216 million last week, reducing its total holdings to 843,775 BTC, according to a Monday SEC filing.
The company said the proceeds from the bitcoin sale will be used to fund distributions on its preferred stock and replenish the portion of its U.S. dollar reserve used for those payments. On July 5, the USD reserve stood at USD 2.55 billion.
The latest sale was conducted at an average price of around $60,000 per bitcoin and is dramatically higher than the 32 bitcoin sold by the company about a month ago, sending crypto prices plunging. Strategy currently has 843,775 BTC acquired for approximately $63.69 billion, or an average purchase price of $75,476 per bitcoin.
Strategy also said it did not sell any shares under its share program in the market during the week ending July and did not buy back any shares under its buyback programs. The company added that the full $1.25 billion capacity under its recently announced BTC Monetization Program is still available.
Strategy shares are down 2% in pre-market trading, and bitcoin has given up much of its weekend gains, trading down to $61,900 from $62,900 before the announcement.
