Strategy makes third $104M Bitcoin sale to fund dividend

Strategy Inc., the world's largest publicly traded corporate holder of Bitcoin, sold 1,638 Bitcoin last week for approximately $104.7 million, marking its third such transaction this year and continuing a significant shift in its treasury management policy. The sales, conducted between July 28 and August 2, reduced the company's holdings to 842,138 Bitcoin, which were acquired at an average price of $75,419 per coin.

The proceeds were used to support corporate financial obligations, with roughly $52.4 million allocated to preferred stock dividend payments and another $52.3 million directed toward repurchasing shares of the company's STRC perpetual preferred stock. Alongside the cryptocurrency sale, Strategy raised $290.6 million by issuing 3.01 million shares of its Class A common stock. These moves increased the company's U.S. dollar reserve by approximately $250 million, bringing its total cash holdings to about $4 billion.

The transactions follow a formal policy shift announced by the company in late June. Previously known for a "never sell" approach, Strategy now operates under a "Digital Credit Capital Framework" that authorizes Bitcoin sales to strengthen liquidity, fund...