[DigitalToday reporter Chi-gyu Hwang] Strategy's board has approved allowing the sale of up to about $5 billion worth of bitcoin under a capital management plan.

According to foreign media reports, up to $1.25 billion could be used to increase dollar reserves, about $1.76 billion for annual preferred share dividends and interest payments, and up to $2 billion to repurchase MSTR common stock and DigitalCredit securities.

Strategy board chairman Michael Saylor (마이클 세일러) said on Aug. 1 the $5 billion approval was not a new decision but part of the existing "DigitalCredit capital framework" announced on June 29. He disputed that there was any separate additional approval.

According to related media reports, Strategy sold 1,638 bitcoin at an average price of $63,957 between July 27 and Aug. 2, securing about $104.7 million. About half of that was used to pay preferred share dividends and the rest to repurchase STRC. Over the same period, the company raised $290.6 million through issuing MSTR shares, repurchased $81.2 million worth of STRC, and increased its dollar reserves to $4 billion.

On Aug. 5, an additional 1,030 bitcoin, worth about $66.14 million, moved out of a wallet reported to be linked to Saylor. Strategy still holds 842,138 bitcoin worth a total of about $52.65 billion.