Strategy sells more than $200 million worth of Bitcoin

Strategy, the world's largest publicly traded corporate holder of Bitcoin, has sold 3,588 BTC worth about $216 million.

The company said the proceeds will be used to fund payments on its STRC preferred shares and strengthen its US dollar reserve, which totals $2.55 billion, Caliber.Az reports, citing foreign media.

The sale was carried out in two tranches: 1,361 BTC at $59,256 per coin and 2,225 BTC at $60,773. Strategy continues to hold 843,775 BTC, acquired since 2020 for a total of $63.69 billion at an average purchase price of $75,476 per Bitcoin.

Following the sale, Bitcoin fell from about $62,900 to $61,600.

Strategy shares declined 4% in premarket trading to $96, while STRC shares traded at around $87, about 13% below their face value.

The company previously reported an $8.32 billion loss, including $8.31 billion in unrealised losses related to its cryptocurrency holdings.

By Bakhtiyar Abbasov