TLDR Tech / Crypto
Michael Saylor's Strategy sells another 1,690 BTC
Michael Saylor's Strategy firm sold 1,690 BTC for approximately $108.6 million between August 3-9, averaging $64,262 per BTC. This reduced their total Bitcoin holdings to 840,447 BTC, valued at about $54.7 billion, representing roughly 4% of Bitcoin's total supply. The company also sold $653.1 million in MSTR shares to repurchase STRC preferred stock and boost its USD reserves by $650 million. Despite a 3.3% gain last week, MSTR is still down about 78% from its peak, with current holdings incurring approximately $8.7 billion in paper losses.
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