India, Aug. 3 -- The Strategy is selling Bitcoin instead of buying more. The company sold 1,638 Bitcoin for about $104.7 million, at an average price of $63,957 per Bitcoin, according to its latest SEC filing. The sale shows that Strategy's focus is shifting from simply building its Bitcoin holdings to keeping more cash available.

Instead, the move appears to be part of a broader plan to strengthen the company's financial position. Strategy also raised much more money by selling shares. Along with the Bitcoin sale, the company sold about 3 million shares of common stock, raising another $290.6 million, according to the filing.

A large part of that money went into Strategy's cash reserve. The company moved $250 million from the share sal...