The Information reported on June 29 that Strategy, led by Michael Saylor, may sell up to $1.25 billion worth of bitcoin to increase its cash holdings.
Strategy has long maintained a policy of buying and holding bitcoin.
Strategy also announced plans to buy back up to $1 billion of common stock and up to $1 billion of preferred stock. It said its cash holdings stand at about $2.55 billion, enough to cover about 17.4 months of dividend and interest costs.
Crypto investors have been closely watching Strategy. A sale of its large bitcoin holdings, now worth $51 billion, could add downward pressure across the broader crypto market.
Strategy shares jumped 13 percent after the Monday announcement. The stock is still down 40 percent so far this year, a bigger drop than bitcoin's 31 percent decline.
Chi-gyu Hwang
delight@d-today.co.kr