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Strategy Sells Bitcoin and Buys Back STRC

The SEC filing shows Strategy actively reshaping its balance sheet with fewer BTC, more cash, and a buyback of STRC preferred stock. The company is keeping the 12% dividend in place.

By Mike Hesp
• 2 min read
Strategy Sells Bitcoin and Buys Back STRC

Key Takeaways

  • Strategy sold 1,638 Bitcoin last week for $104.73 million and also raised $290.6 million through common stock.
  • The company bought back 912,143 STRC shares for $81.2 million, bringing its Bitcoin holdings to 842,138 BTC.
  • Strategy kept STRC's annual dividend rate at 12% and increased its USD reserve by $250 million to $4 billion.

Strategy sold 1,638 Bitcoin last week, generating $104.73 million (€91.2 million) in proceeds. It also brought in another $290.6 million (€253 million) from common stock sales. At the same time, the company repurchased 912,143 shares of its high-yield preferred stock STRC for $81.2 million (€70.7 million), according to a SEC filing released Monday morning.

Bitcoin Holdings Fall

After the sale, Strategy's Bitcoin stash stood at 842,138 BTC. The company said it built that position for a total of $63.51 billion (€55.3 billion), at an average cost of $75,419 (€65,700) per coin. It also added $250 million (€218 million) to its USD reserve, lifting that balance to $4 billion (€3.5 billion).

Strategy has been the largest corporate holder of Bitcoin since August 2020, and over time it has financed those purchases with a mix of convertible notes, equity offerings, and preferred stock issuances such as STRC. That leaves the company's balance sheet tied not just to Bitcoin prices, but also to the terms of the financing it uses. In an earlier move, Strategy already reworked its capital structure to build up the cash buffer without changing its bitcoin position.

STRC Dividend Stays at 12%

Over the weekend, the company said it will keep STRC's annual dividend rate at 12%. Strategy said it does not want to recommend a lower payout unless the shares are consistently trading near the $100 (€87) par value. In June, shareholders also approved a shift in STRC's payout schedule from monthly to twice a month, a change meant to support price stability and make the stock more appealing to a wider range of investors.

Why This Matters

For European crypto readers, the main takeaway is that Strategy remains one of the clearest publicly traded ways to get exposure to Bitcoin. MSTR often swings more sharply than the coin itself, so moves in the balance sheet, reserve levels, and STRC structure tend to draw attention well beyond the US. The combination of Bitcoin sales and preferred stock buybacks shows how actively the company keeps adjusting its capital structure around the crypto market.

MSTR was down 1.9% in premarket trading, following a weekend drop in Bitcoin to $62,500 (€54,400). STRC was basically flat.

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