CoinDesk·3 min read·hard
Michael Saylor's Strategy dramatically ups pace of bitcoin sales, raising $216 million
J
James Van Straten
✦AI Summary
MicroStrategy has increased its bitcoin sales, raising $216 million to fund preferred stock distributions and replenish U.S. dollar reserves. The company currently holds over 840,000 BTC, though its stock price dipped following the announcement.
The company said proceeds from the bitcoin sales will be used to fund distributions on its preferred stock and replenish the portion of its U.S. dollar reserve used for those payments. As of July 5, the USD reserve totaled $2.55 billion.
businesscryptoeconomy
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