Michael Saylor's Strategy: Selling 1,690 BTC and Building Up a Dollar Reserve
Last week, from August 3 to 9, Strategy, led by Michael Saylor, conducted a series of operations that may seem unexpected to the market. I recorded the sale of 1,690 BTC, but all proceeds were directed not toward replenishing the bitcoin reserve, but toward buying back its own preferred shares, STRC. This is a non-standard move that requires careful analysis.
According to my data, proceeds from the first batch amounted to $108.6 million, at an average price of $64,262 per coin. In parallel, the company issued and sold 6.59 million common MSTR shares, raising $653.1 million. Of this amount, $650 million was allocated to increasing the dollar reserve, which now stands at $4.65 billion. Such a step indicates preparation for potentially large acquisitions or hedging against market risks.
As of August 9, Strategy continues to hold an impressive portfolio of 840,447 BTC, with a total acquisition cost estimated at $63.36 billion. This confirms that the company is not abandoning its long-term strategy of accumulating the first cryptocurrency, but is merely maneuvering liquidity temporarily.
My analysis and conclusions
The sale of some bitcoins to buy back STRC is a signal of a desire to optimize the capital structure, rather than a shift toward a bearish stance. Given that the average sale price ($64,262) is below current market values, the company is likely betting on future growth and building a dollar cushion for aggressive purchases during a correction. I expect that in the coming quarters we will see new large inflows into BTC if market conditions remain favorable.