The sale funded preferred dividends and share buybacks, reducing Bitcoin reserves while extending USD duration to 2.3 years.
Strategy sold 1,638 Bitcoin for $104.7 million last week, reducing its holdings to 842,138 BTC. The coins were sold at an average price of $63,957, net of fees, above its aggregate cost basis of $75,419 per Bitcoin.
The proceeds were split between $52.4 million for preferred stock dividends and $52.3 million for repurchasing 912,143 STRC shares, totaling $81.2 million. The remaining $28.9 million came from common stock sales. This marks the second buyback under a $1 billion program, leaving $893.8 million in authorization.
The moves extended Strategy’s USD duration by 57 days to 2.3 years and tightened STRC’s Bitcoin credit spread by five basis points. The company maintained its 12% annual dividend rate, declaring $0.50 semi-monthly payments per share.