MicroStrategy sells another $109 million in Bitcoin amid seven-week buying pause

MicroStrategy revealed that it has sold 1,690 Bitcoin, generating roughly $109 million, and will use the proceeds to buy back one of its preferred-stock offerings instead of expanding its crypto holdings. This is the second sizable Bitcoin sale this month, following a roughly $105 million divestiture on Aug. 3, and it ends a seven-week period without any new purchases. The announcement caused the company’s stock to slip 1.5% at the opening bell before climbing back to $100, while Bitcoin’s price dipped about 1% before recovering to $64,700.

Since announcing in late June that it could liquidate up to $1.25 billion in Bitcoin, the firm has now executed four separate sales, signaling a departure from its long-standing buy-and-hold approach. Executive chairman Michael Saylor began the Bitcoin accumulation in 2020, growing holdings to about $54 billion, roughly 4% of the total supply. CEO Phong Le said the latest sale strengthens the firm’s cash reserve, now at an all-time high after adding nearly $3.8 billion in 2.5 months. The shift mirrors a wider industry pullback, with other public companies that loaded balance sheets with crypto also feeling the downturn.