The company now holds 842,138 Bitcoin bought at an aggregate cost of $63.5 billion.<\/p>\n
Strategy sold 3,588 Bitcoin for about $216 million on July 6<\/a>. It also disclosed the sale of 32 Bitcoin in early June<\/a>, its first reported Bitcoin sale since the 2022 tax-loss transaction.<\/p>\n Strategy also reported raising $290.6 million through MSTR share sales during the same period. Of the proceeds, $250 million was used to increase the US dollar reserve, which stood at $4 billion as of Sunday, while another $28.9 million funded STRC repurchases and $11.7 million was added to Strategy\u2019s cash balance.<\/p>\n Strategy founder and chairman Michael Saylor said<\/a> in a Monday X post that the company repurchased $81.2 million worth of STRC stock and extended its US dollar runway by 57 days to 2.3 years.<\/p>\n Strategy\u2019s perpetual preferred stock, STRC, traded at $89.40, or 10.6% below its $100 target value, during Monday\u2019s pre-market trading, Yahoo Finance data<\/a> shows. The company\u2019s MSTR stock also declined <\/a>0.9% in pre-market trading on Monday.<\/p>\n STRC stock price, 1-day chart. Source: Yahoo Finance<\/em><\/p>\n STRC is one of Strategy\u2019s financing mechanisms for Bitcoin purchases. Trading below its intended par can limit Strategy\u2019s ability to raise funds through STRC sales. It may also pressure the company to further increase its dividend rate to attract buyers and support STRC\u2019s price.<\/p>\n Related: <\/strong><\/em>CLARITY Act failure could send crypto valuations lower: Bernstein<\/strong><\/em><\/a><\/p>\n On June 24, CryptoQuant CEO Ki Young Ju said Strategy should pause<\/a> Bitcoin purchases and replenish its cash reserve, after the company\u2019s dividend coverage fell to 14 months from seven years.<\/p>\n \u201cThey should pause Bitcoin purchases, rebuild cash reserves, and adopt a systematic framework for purchase timing,\u201d Ju said<\/a> in a June 24 X post.<\/p>\n In an 8-K filing dated June 29, Strategy unveiled a capital framework<\/a> allowing Bitcoin sales to fund dividends, raised the annual dividend rate on its STRC preferred stock to 12%, and disclosed that its US dollar reserve had grown to $2.55 billion.\u00a0\u00a0<\/p>\n Magazine: <\/strong><\/em>Bitcoin adoption metrics say one thing, price action says another<\/strong><\/em><\/a><\/p>\n Related:<\/strong> Bitcoin price<\/a> \u00b7 BTC live chart<\/a> \u00b7 Ethereum price<\/a> \u00b7 ETH gas fee<\/a> \u00b7 Bitcoin price today<\/a> \u00b7 Top 10 cryptocurrencies<\/a><\/p>\nStrategy bolsters USD reserve to $4 billion, repurchases STRC stock<\/h2>\n
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