Strategy sold 1,690 bitcoin for $108.6 million at an average of $64,262 per coin, well under its own $75,385 cost basis, and spent every dollar buying back 1,152,020 STRC preferred shares. The August 10 filing marks the first time the company has realised a loss on bitcoin to defend an instrument it issued.
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Transcript
Strategy just sold bitcoin at a loss. A filing this morning shows it sold one thousand six hundred ninety coins between August third and ninth, for one hundred eight point six million dollars. That is sixty four thousand two hundred sixty two a coin. Strategy's own average cost is seventy five thousand three hundred eighty five, so it booked a loss of about eleven thousand dollars on every coin. And every dollar went to one place. Buying back one point one five million shares of STRC, its own preferred stock, to hold the price at par. The company raised six hundred fifty three million selling shares that same week, and left it in the bank. It chose to spend bitcoin instead. That is a priority, not an accident.