Bitcoins
- Strategy sold 1,638 BTC for US$104.73 million between 27 July and 2 August, at an average US$63,957 a coin.
- The company’s average purchase price stands at US$75,419, putting the sale about 15% below what it paid.
- Michael Saylor, Strategy’s executive chairman, said on X that he has never sold his own Bitcoin, a holding no company filing covers.
Michael Saylor said he has never sold any of his own Bitcoin on the same day Strategy disclosed selling 1,638 BTC for US$104.73 million (AU$149.8 million), at an average price roughly 15% below what the company paid for its coins.
“When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine. Not one satoshi,” Saylor wrote on X on Monday.
Strategy sold the coins between 27 July and 2 August at an average US$63,957 (AU$91,459), according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.
Against an average purchase price of US$75,419 (AU$107,849), the company took a loss on every coin it moved.
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Proceeds Did Not Buy More Bitcoin
US$52.4 million (AU$74.9 million) went to dividends on Strategy’s preferred stock and US$52.3 million (AU$74.8 million) funded repurchases of its STRC shares, the filing states. Holdings finished at 842,138 BTC on 2 August, down from 847,363 in late June.
Strategy’s disclosures cover the company’s treasury. A director’s personal Bitcoin falls outside those reporting rules, and the Form 4s that track insider dealing apply to company securities, so Saylor’s statement rests on his own account.
Monday’s filing was the third this year to disclose Bitcoin sales, after ones in June and July. Together they cover 5,258 BTC sold for about US$323.2 million (AU$462.2 million), including the 3,588 BTC that raised US$216 million (AU$308.9 million) across late June and early July. Strategy’s weekly filings have recorded no Bitcoin purchases since 22 June.
Saylor first floated selling Bitcoin to cover the dividends owed on Strategy’s preferred stack earlier this year.
The company’s US dollar reserve, which it maintains to meet those dividends and interest costs, reached US$4 billion (AU$5.72 billion) on 2 August.
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José Oramas Read More