Strategy (MSTR) sells 1,690 bitcoin averaging $64,262 per coin
Business
Strategy (MSTR), the company known for holding a massive bitcoin stash, just sold 1,690 bitcoin for about $108.6 million.
This move was made at an average price of $64,262 per coin.
Even after selling, Strategy (MSTR) still owns bitcoins (worth billions), so they're not exactly stepping away from crypto.
Strategy (MSTR) raises $653.1 million selling stock
Alongside the bitcoin sale, Strategy (MSTR) raised another $653.1 million by selling company stock.
Most of this cash is going into its reserves (now totaling $4.65 billion), while the $108.6 million bitcoin-sale proceeds were used to buy back other types of shares.
The company has also set aside big funds for more stock and share buybacks in the future, and both its stocks saw a little bump in premarket trading today.