Strategy (formerly MicroStrategy) disclosed Monday it purchased 1,550 Bitcoin for $101 million, bringing its total holdings to 845,256 BTC worth roughly $53.3 billion. The purchase follows the company's first Bitcoin sale in over three years—a sale of 32 BTC for $2.5 million that triggered a 24% share price drop last week, the worst since November 2022. CEO Michael Saylor had hinted at the sale to protect dividend payments on its preferred stock (STRC). Strategy's cash reserves have rebounded to $1 billion after being depleted by debt repurchases. Despite unrealized losses of ~$10.7 billion on its Bitcoin holdings, the firm continues its buy-and-hold strategy. Shares rose 3.4% on the day to $124.

Key facts

• Strategy bought 1,550 BTC for $101 million, total holdings now 845,256 BTC.
• Shares rose 3.4% after a 24% drop last week from its first Bitcoin sale in 3 years.
• Cash reserves restored to $1 billion after being depleted by debt repurchases.
• Bitcoin holdings show ~$10.7 billion in unrealized losses at current price of $63,000.
• CEO Saylor hinted at the sale to protect preferred stock dividend payments.

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