Strategy turns 1,690 BTC into $108.6M STRC buyback
Strategy sold 1,690 Bitcoin to repurchase STRC shares as its US dollar reserve rose to $4.65 billion and its Bitcoin holdings fell to 840,447 BTC.
Strategy, which holds the largest corporate Bitcoin treasury, sold BTC for the second week in a row to repurchase its STRC preferred stock.
The company sold 1,690 Bitcoin for $108.6 million between Aug. 3 and Aug. 9, according to a Monday 8-K filing with the US Securities and Exchange Commission (SEC).
Strategy used the proceeds to buy back 1.15 million shares of its STRC preferred stock for $108.6 million. STRC is a variable-rate preferred stock designed to pay monthly dividends.
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