What Do We Know About Strategy’s Bitcoin Sale?
In an on Monday, Strategy (formerly known as MicroStrategy) announced it had sold 32 bitcoins in the last week of May to raise about $2.5 million to pay dividends to stockholders. The average sale price for the tokens was around $77,135 per bitcoin. Strategy’s stock price fell 5.85% on Monday after the disclosure. This is only the second time the company has sold a portion of its Bitcoin holdings, with the last such sale taking place in December 2022.
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How Much Bitcoin Does Strategy Hold?
Even after the sale, Strategy continues to hold 843,706 bitcoins, which were bought at an average purchase price of $75,699, making it the largest institutional holder of the cryptocurrency.
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Forbes Valuation
According to Forbes’ Real Time Billionaires’ list, Strategy founder and CEO Michael Saylor’s net worth is $4.5 billion, making him the 943rd richest person in the world. Monday’s selloff of Strategy’s stock cut Saylor’s fortune by $183 million.
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