Strategy, the corporate Bitcoin heavyweight formerly known as MicroStrategy, sold 1,638 BTC between July 27 and August 2 for roughly $104.7 million. The proceeds were split evenly: $52.4 million went to dividend payments on preferred stock, and $52.3 million funded buybacks of its Stretch (STRC) preferred shares. The company also sold 3,011,351 shares of MSTR common stock through its at-the-market program, netting $290.6 million.
Stock sale bolsters cash reserve
Of the $290.6 million from the common stock sales, $250 million was added to Strategy's USD Reserve, which now stands at $4 billion. The remaining proceeds were used for general corporate purposes. The move comes as the firm continues to balance its massive Bitcoin holdings with shareholder returns.
Dividend and buyback details
Strategy repurchased 912,143 shares of STRC for $81.2 million during the same week. The board maintained the dividend rate on STRC at 12% annually, declaring $0.50 per share for the periods ending August 31 and September 15. The buyback and dividend payments are part of a broader capital allocation strategy that relies on both Bitcoin sales and equity issuance.
CEO reaffirms long-term Bitcoin conviction
CEO Phong Le said the company plans to remain a long-term buyer of Bitcoin despite the recent sales. Strategy still holds 842,138 BTC on its balance sheet, worth approximately $54 billion at current prices. The stash was acquired at a total cost of $63.51 billion, meaning the firm is sitting on an unrealized loss of about $9.5 billion — but given its history, that hasn't deterred further accumulation. Strategy began buying Bitcoin in August 2020 and remains the largest corporate holder of the asset globally.
The next dividend payment dates for STRC are August 31 and September 15, with the board keeping the 12% annual rate unchanged. Whether Strategy will continue selling Bitcoin to fund future dividends or rely more on equity sales is an open question.
