Strategy · Bitcoin · Michael Saylor · CryptoSlate
Michael Saylor said Strategy sold $108 million in Bitcoin and $653 million in MSTR shares to increase its dollar reserve
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The timing aligns the three moves without proving that each dollar from the Bitcoin sale directly funded the repurchase.
Key facts
- Michael Saylor said Strategy sold $108 million in Bitcoin and $653 million in MSTR shares to increase its dollar reserve by $650 million, and repurchased $109 million of STRC, its variable-rate
- On Aug. 10, Saylor said the company’s dollar reserve had increased by $650 million to $4.65 billion
- Strategy also repurchased $109 million of STRC and extended what Saylor called its dollar duration by 143 days to 2.7 years
- QR Capital co-founder João Paulo Mayall estimated in an Aug. 11 thread that Strategy sold $213 million of Bitcoin over two weeks, about 0.4% of its position
Summary
01 Strategy said it sold $108 million in Bitcoin, raised $653 million from MSTR shares, and repurchased $109 million of STRC. 02 The moves lifted its dollar reserve to $4.65 billion and extended duration to 2.7 years, adding balance-sheet flexibility. 03 The open question is whether future Bitcoin sales stay voluntary, or grow as dollar coverage weakens and obligations tighten. Strategy said it held 840,447 BTC as of Aug. 9 and has begun treating its Bitcoin reserve as a source of balance-sheet flexibility. Michael Saylor said Strategy sold $108 million in Bitcoin and $653 million in MSTR shares to increase its dollar reserve by $650 million, and repurchased $109 million of STRC, its variable-rate preferred stock.