Strategy Sells 3,588 BTC to Cover Preferred Dividend Payments
Strategy (formerly MicroStrategy) offloaded 3,588 BTC (~$226 million) from its treasury between June 30 and July 6 to fund quarterly dividends on four classes of preferred stock plus a June dividend on STRC. The sale sent MSTR stock down nearly 2% in premarket and pressured Bitcoin as well.
Between June 30 and July 6, Strategy (MicroStrategy) reduced its crypto treasury by 3,588 BTC, valued at approximately $226 million. The sale was attributed to quarterly dividend payments on four classes of preferred stock — STRF, STRE, STRK, and STRD — as well as the full monthly June dividend on STRC.
Following the news, Strategy's MSTR shares fell nearly 2% in premarket trading to $98.91. Year-to-date, the stock has declined 33.6%. Bitcoin also reacted negatively, dropping in price amid the selling pressure.
Source: ForkLog