Breaking: Michael Saylor's Strategy sells 1,690 BTC for $108.6M, uses all proceeds to buy back STRC preferred as equity sales raise $653M

Strategy's sale of 1,690 BTC (~$108.6M) to repurchase STRC preferred shares signals active balance-sheet management and capital structure optimization rather than a directional macro call on crypto. The concurrent $653M equity raise and lift in USD reserves to $4.65B improves liquidity, but the BTC sale introduces incremental near-term supply and may temper sentiment around corporate BTC accumulation.