Strategy sells 3,588 Bitcoin for $216M to fund dividends, keeps $2.55B reserve intact
Strategy sold $216 million in Bitcoin to fund its dividend payments, as wealth manager Bernstein maintained its year-end Bitcoin price target of $150,000. Michael Saylor's Strategy sold 3,588 Bitcoin (BTC) to fund preferred stock dividend payments and replenish its cash reserves. Strategy sold the Bitcoin for $216 million, reducing its total holdings to 843,775 Bitcoin, according to a Monday 8-K filing with the US Securities and Exchange Commission. This included 1,363 Bitcoin sold at an average price of $59,256 between last Monday and Tuesday, and 2,225 Bitcoin sold at an average price of $60,773 between Wednesday and Sunday.
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