Strategy maneuvers: selling bitcoins and buying back STRC as a signal of a new strategy
Analyzing the latest capital movements, I note an unusual move by Strategy. Between August 3 and 9, the company sold 1,690 BTC, directing all proceeds to buy back its own preferred shares STRC. This is not just a routine operation, but a signal of a restructuring of the financial model in a volatile market.
According to my calculations, the total revenue from the bitcoin sales amounted to $108.6 million, at an average sale price of $64,262 per coin. It is important to emphasize that this is not a panic dump, but a controlled action: the sale price deviates only slightly from current market levels, indicating well-thought-out timing.
In parallel, Strategy conducted an additional issuance: 6.59 million MSTR shares were sold for $653.1 million. Of these funds, $650 million was directed to increase the dollar reserve, which now stands at $4.65 billion. This is a strong signal for the market: the company is not just hedging positions, but preparing a "cushion" for future acquisitions, likely aimed at further expanding BTC holdings.
The key point is the final balance. As of August 9, Strategy holds 840,447 BTC, acquired for $63.36 billion. The average cost per coin is approximately $75.4 thousand, which is higher than the current market price. However, this should not be misleading: the company historically uses long-term horizons, and current paper losses are offset by strategic positioning.
My expert view: the STRC buyback is a classic technique to support the quotes of its own instruments, but combined with the BTC sale, it looks like a tactical exchange. By liquidating part of its crypto assets at $64 thousand, Strategy locks in a loss relative to the average entry price, but simultaneously increases liquidity. In my opinion, this is preparation for more aggressive purchases on dips — if bitcoin falls below $60 thousand, the company will have the opportunity to average down with a huge margin of safety.