Strategy sold 32 BTC for $2.5 million in late May, filing shows The 8-K filing Monday says proceeds from the May 26-31 sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy’s preferred stock.
What to know: – Strategy sold 32 bitcoin between May 26 and May 31 for about $2.5 million at an average net price of $77,135 per coin, according to a new 8-K filing. – The sale, the company’s first disclosed bitcoin disposal, will be used to fund distributions on its preferred stock, a footnote in the filing said. – Strategy still held 843,706 bitcoin as of May 31 at an average purchase price of $75,699, leaving the sale price above its cost basis but above bitcoin’s roughly $73,400 market price on Monday
Strategy (MSTR) sold 32 bitcoin between May 26 and May 31 at an average net price of $77,135 a coin, totaling $2.5 million, the company disclosed in an 8-K filing on Monday. The disposal is Strategy’s first disclosed bitcoin sale and the proceeds are earmarked to fund distributions on its preferred stock, according to a footnote in the filing. The company held 843,706 bitcoin at an average purchase price of $75,699 as of May 31, putting the sale price above its blended cost basis but also above where bitcoin More For You The preferred stock remains near its $100 par value as the company balances yield stability, ATM issuance capacity, and its bitcoin acquisition strategy.
What to know: – STRC’s dividend rate remained unchanged at 11.5% after the stock’s monthly VWAP reached $99.62, allowing Strategy to keep shares trading close to their $100 target par value. – Maintaining STRC near par is critical to Strategy’s ability to issue shares through its ATM program, generating capital for bitcoin purchases, debt management