Bitcoin News
By Evie Vavasseur
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The "Never Sell" Policy Is Gone. Strategy's USD reserve has now crossed $4 billion. That's a milestone worth pausing on, because it…
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Selling Shares to Cover Dividends. The dividend load is heavy. Strategy faces $1.76 billion in annual dividend obligations, and it's…
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Prediction Markets Turn Skeptical. On Myriad, a prediction market, the odds of Strategy holding over 1 million BTC by 2027 dropped to…
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Strategy sold 1,638 Bitcoin for $104.7 million in the week ending August 2, per a regulatory filing. That's not a small number.
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The company split the proceeds pretty much down the middle. About $52.4 million went straight to funding dividends on preferred stock. The other $52.
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The financial mechanics go a bit deeper. The sales extended Strategy's USD duration by 57 days, bringing it to 2.3 years.
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Strategy's USD reserve has now crossed $4 billion. That's a milestone worth pausing on, because it wasn't long ago the company was publicly committed to never selling Bitcoin.
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Then in June, Strategy formalized the shift. It rolled out a capital framework that explicitly allows for up to $1.25 billion in Bitcoin disposals under specific conditions.
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Since hitting a peak of 847,363 BTC in June, the company's holdings have dropped by 5,225 BTC. That's a 0.6% reduction from the top.
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Related: Trump Media Dumps 2,628 Bitcoin to Crypto.com, Sits on 4,261 BTC Worth $270M
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The dividend load is heavy. Strategy faces $1.76 billion in annual dividend obligations, and it's funding much of that by selling MSTR shares.
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That's a lot of share issuance. And it's ongoing. The company's approach right now is basically: sell equity, park dollars, cover dividends, and occasionally trim Bitcoin when…
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Bitcoin was trading around $62,600 on Monday, down roughly 1% per market data. At that price, the 842,138 BTC Strategy holds is worth somewhere north of $52 billion on paper.
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On Myriad, a prediction market, the odds of Strategy holding over 1 million BTC by 2027 dropped to 6% — down from 12% the prior week. That's a sharp move.
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Whether Strategy ever gets back to accumulation mode is unclear. The capital framework caps disposals at $1.25 billion total, and $321 million is already gone.
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