Strategy Sells 1690 Bitcoin for $108.6M and Raises $653M in MSTR Shares in Latest Weekly Liquidation

Strategy, the Michael Saylor-led firm formerly known as MicroStrategy, sold 1,690 Bitcoin for approximately $108.6 million on August 10, reducing its total holdings to 840,447 BTC. Alongside the Bitcoin sale, the company sold 6.6 million MSTR common shares through its at-the-market program, raising an additional $653 million. The moves mark a continuation of what observers are calling an ongoing sell-off, with Strategy having sold 1,638 BTC the prior week for roughly $104.7 million, cutting holdings from 842,138 BTC to 840,447 BTC over the two-week span.

The sales are part of a strategic pivot away from the firm's years-long Bitcoin accumulation approach, with proceeds directed at bolstering a cash and USD reserve. A cryptic reference to 'Doing Business' posted a day earlier was widely read as foreshadowing the disclosure.