Strategy Inc. (NASDAQ:MSTR) sold 32 Bitcoin (CRYPTO: BTC) for roughly $2.5 million between May 26 and May 31 to fund preferred stock dividend payments.
Holdings Drop To 843,706 BTC With $2.9B Paper Loss
The 32 coins were sold at an average price of $77,135 each, reducing total holdings to 843,706 Bitcoin worth around $61 billion.
Strategy’s average purchase price sits at $75,699 per coin, putting total acquisition cost at roughly $63.9 billion and leaving an implied paper loss of approximately $2.9 billion at current prices.
The sale came the same week Strategy sold 801,994 MSTR shares for $128.3 million under its at-the-market program, though none of those proceeds went toward Bitcoin purchases during the period.
The company still has approximately $26.1 billion remaining under its ATM program, recently extended to include an additional $21 billion of MSTR, $21 billion of STRC preferred stock, and $2.1 billion of STRK preferred stock.
STRC Dividend Rate Stays At 11.5% For June
Strategy …
