Michael Saylor’s Bitcoin treasury firm Strategy sold 1,690 BTC for $108.6 million in the week to Aug 9, according to an 8-K filed Monday, cutting its Bitcoin stack to 840,447 BTC from the 842,138 held a week earlier.
The coins went at an average of $64,262, net of fees
The sales leave Strategy with an aggregate cost basis of $63.36 billion, or $75,385 per Bitcoin—$11,123 more than this week’s coins fetched. Every dollar went into buying back preferred stock. Strategy repurchased 1,152,020 STRC shares for $108.6 million, matching the sale proceeds exactly, in its third buyback under the $1 billion Digital Credit Securities Repurchase Program announced June 29.
That leaves $785.2 million of authorization. A week earlier, half the Bitcoin proceeds had funded preferred dividends and half an $81 million buyback. The larger transaction was in equity.