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- Strategy sells $105M in Bitcoin 💸
Strategy sells $105M in Bitcoin 💸
The Bitcoin treasury company resumed Bitcoin sales to fund STRC dividends and a buyback, as it accelerated its "capital framework."
📝 What you need to know
Bitcoin treasury firm Strategy sold $105 million in BTC last week, as its “capital framework” becomes the new normal. The company used the proceeds to fund preferred dividends and an $81 million STRC buyback, as its Bitcoin-purchasing drought continues into another month.
Strategy also took time to further shore up its cash reserves, taking them to $4 billion. Under a “BTC Monetization Program” unveiled in June, the firm can raise up to $1.25 billion by selling Bitcoin. To date, Strategy has used $321 million of that capacity, discounting a 32 BTC sale that preceded the establishment of the capital framework.
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