Strategy sold 1,638 Bitcoin this week for $105 million, using the proceeds to fund dividend payments and share repurchases. The transaction, disclosed by the company, is the latest move by the business intelligence firm to tap its digital asset holdings for cash.
The transaction
Strategy offloaded the Bitcoin in a single sale, generating $105 million. The company said the funds will go toward its dividend program and a share buyback initiative. It did not specify the exact split between the two uses or the timing of the repurchases.
Strategy holds one of the largest corporate Bitcoin treasuries in the world. Periodic sales like this one allow the firm to return capital to shareholders without issuing new equity or taking on debt. The sale comes as Bitcoin trades in a range that makes such monetization attractive for the company's balance sheet management.
Strategy has not indicated whether it plans additional Bitcoin sales in the near term. The company's next quarterly earnings report, expected in late October, will likely provide more detail on its treasury strategy and any further plans to liquidate holdings.
