Strategy sells MSTR shares, buys back $25M in STRC preferred stock
Strategy, the business intelligence firm and corporate Bitcoin leader, adjusted its capital structure last week by selling 5.43 million shares of its Class A common stock (MSTR) for $544.5 million in net proceeds. Concurrently, it repurchased $25 million worth of its STRC preferred stock. These moves increased the company's US dollar reserve to $3.75 billion. Strategy reported no Bitcoin purchases or sales during the period, leaving its holdings unchanged at 843,775 BTC. The update followed executive chairman Michael Saylor's social media post hinting at strategic moves, which also reignited debate over Bitcoin's relationship with traditional banks, highlighting a divide within the crypto community.
cointelegraph07/27 12:54
