Strategy sells 2,225 Bitcoin as Q2 digital asset loss hits $8.3 billion
Strategy sold 3,588 Bitcoin between June 29 and July 5, generating net proceeds of approximately $216.0 million to fund preferred stock distributions and replenish its US dollar reserve. The company sold 1,363 Bitcoin on June 29-30 for $80.8 million at an average price of $59,256, followed by 2,225 Bitcoin between July 1 and July 5 for $135.2 million at an average price of $60,773.
Following the sales, Strategy’s Bitcoin holdings declined from 847,363 Bitcoin to 843,775 Bitcoin, with an aggregate purchase price of $63.69 billion and an average acquisition cost of $75,476 per Bitcoin. The company also confirmed it made no share sales under its at-the-market (ATM) programme and no share repurchases during the reporting period.
Strategy said its US dollar reserve stood at $2.55 billion as of July 5. The company added that the full $1.25 billion capacity under its recently announced Bitcoin Monetization Program remains available. Separately, Strategy reported an $8.32 billion digital asset loss for the second quarter, largely reflecting unrealised losses, while naming CFO Andrew Kang as principal accounting officer following Jeanine Montgomery’s retirement.
This is a developing story.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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