Strategy Sells Bitcoin, MSTR Investors Face $8.3B Hit
Strategy Inc stock ticked up Thursday. The bitcoin-treasury firm posted a $8.32 billion Q2 loss tied to digital assets and said it sold more bitcoin this quarter than at any point since it started buying in 2020. Strategy, seen by a lot of investors as just a big bitcoin holder, is now tapping some of its coins to raise cash. The company sold bitcoin for less than what it paid on average, and used the money to pay out its preferred shareholders and boost its dollar reserves.