Strategy Dumps 3,588 Bitcoin for $216 Million, Reduces Holdings

Michael Saylor's company, Strategy (MSTR), has significantly increased its pace of bitcoin sales. The latest transaction saw the sale of 3,588 BTC for approximately $216 million, reducing its total holdings to 843,775 BTC.

The proceeds from these sales will be used to fund distributions on preferred stock and replenish the company's U.S. dollar reserve. As of July 5, the USD reserve totaled $2.55 billion.

Strategy currently holds 843,775 BTC acquired for approximately $63.69 billion, an average purchase price of $75,476 per bitcoin.