Strategy reallocates assets: selling BTC and buying back STRC
Between August 3 and 9, Strategy carried out a series of operations that drew market attention. I recorded the sale of 1,690 BTC, with all proceeds directed toward repurchasing its own STRC convertible bonds. According to my analysis of the filing submitted to the SEC, revenue from the bitcoin sales amounted to $108.6 million, at an average sale price of $64,262 per coin. This decision demonstrates flexibility in managing treasury assets amid volatility.
In parallel, Strategy issued 6.59 million MSTR shares, raising $653.1 million. Of that amount, $650 million was allocated to increasing the dollar reserve, which now reaches $4.65 billion. This tactic strengthens the company's liquidity cushion, which is critical for maintaining operational stability and future investment steps.
As of August 9, Strategy's total portfolio stands at 840,447 BTC, acquired for $63.36 billion. Despite the partial sale, the company continues to hold a significant share of the digital asset market, confirming a long-term bullish stance. The average carrying cost remains at around $75,400 per bitcoin, indicating substantial unrealized profit at current prices.
My expert assessment: Such operations are not a sign of weakness, but rather prudent capital management. The STRC buyback helps reduce debt burden and lessen dilution of shareholder equity, while building up dollar reserves enables a rapid response to market opportunities. In the long term, this strengthens the company's position as one of the largest institutional bitcoin holders.