Strategy sold 1,690 Bitcoin this week, raising $108.6 million to fund a repurchase of its own STRC shares. The sale trimmed the company's Bitcoin holdings to 840,447 BTC and pushed its US dollar reserve to $4.65 billion.
Funding the buyback
The proceeds went straight into buying back STRC stock. That's a direct use of capital, and it's a move that often signals management thinks the shares are undervalued. Strategy didn't say how many shares it repurchased or at what price, but the cash is now on the balance sheet.
Reserves climb
The dollar reserve jumped to $4.65 billion, a level that gives the company plenty of dry powder. That's a meaningful cushion, especially if it wants to buy more Bitcoin later or fund other corporate actions.
Bitcoin position shrinks
Strategy still holds 840,447 BTC, which is a massive position by any measure. But the sale marks a rare reversal from its usual pattern of accumulating. The company has been one of the most aggressive corporate buyers of Bitcoin, so any sell-off gets attention.
The sale comes at a time when Bitcoin's price has been volatile, though the company didn't comment on the timing. For now, the move is a straightforward balance-sheet decision: turn some Bitcoin into cash, use that cash to buy back shares.
