Why Strategy sold now
The sale wasn't a bet on price. Strategy needed cash to pay dividends on its perpetual preferred stock, ticker STRC. That instrument carries an annualized dividend rate of 11.5% and has been held for four consecutive months. STRC hasn't traded at par since mid-May and fell as low as $97.11 before recovering to around $99.10. The company used STRC proceeds to buy more than 122,000 Bitcoin over time — now a fraction of those coins got
