Strategy Sells $109 Million of Bitcoin — WSJ

By Vicky Ge HuangStrategy, the bitcoin-hoarding firm founded by Michael Saylor, said it sold 1,690 bitcoin last week to fund preferred stock repurchases.The sale, which raised about $109 million, marks the company's second week of consecutive bitcoin sales. Strategy said last Monday that it had offloaded about $105 million worth of the cryptocurrency in the prior week.Strategy also sold about $653.1 million worth of common stock shares mainly to boost its U.S. dollar cash reserves, which stood at $4.65 billion as of Sunday.Shares of Strategy were flat in premarket trading. Bitcoin recently traded around $65,000.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).