CoinDesk·3 min read·medium
Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares
J
James Van Straten
✦AI Summary
Strategy has sold 1,690 bitcoin to raise $653 million, utilizing the proceeds to repurchase preferred stock and bolster its USD reserves. The company continues to maintain a significant bitcoin treasury while managing its capital structure through common and preferred stock buybacks.
The company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.
businesscryptoeconomy
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