Strategy Sells Bitcoin for First Time Since 2022 to Cover Preferred Dividends
Last week, Strategy, the company established by Michael Saylor that accumulates bitcoin, divested 32 bitcoins for $2.5 million to facilitate distributions on its preferred stock. This transaction represents the firm's initial bitcoin sale since 2022. By making this sale, the company aims to address its financial commitments without needing to pursue alternative capital-raising methods.
Key facts
- Strategy sold 32 bitcoins for $2.5 million.
- The sale was to cover preferred stock dividends.
- It is the first bitcoin sale by the company since 2022.
- The firm was founded by Michael Saylor.
Entities
Institutions
- Strategy
Sources
- Quartz —