Strategy Sells Bitcoin For First Time In Four Years
The move marks a shift in strategy for Michael Saylor’s company, causing Bitcoin to dip below $72,000 and MSTR shares to fall 5% in premarket trading.
Strategy, the corporate treasury firm led by Executive Chairman Michael Saylor, has sold 32 Bitcoin for proceeds of $2.5 million U.S. over the past week. This transaction marks the first time the company has divested any of its Bitcoin holdings in four years, breaking a long-standing pattern of accumulation that has defined its corporate identity.
The divestment was driven by pressure to fund dividend payments on its high-yielding preferred stock, which trades under the ticker $STRC on the NASDAQ and currently yields 11.5%. A regulatory disclosure confirmed the sale, noting that while the volume is small relative to the company’s total holdings of more than 840,000 Bitcoin, it signals a potential shift in liquidity management.
Market reaction was immediate. Bitcoin fell below $72,000 U.S. following the news, while Strategy’s common stock, $MSTR, dropped 5% in premarket trading on June 1. The decline in MSTR shares adds to a broader downturn for the company, which has fallen more than 60% over the last 12 months and is currently trading at $151.30 U.S. per share.
This event stands in stark contrast to the firm’s historical stance. Michael Saylor has long been regarded as a staunch advocate for Bitcoin on Wall Street, consistently expressing reluctance to sell the company’s growing BTC holdings. The previous instance of sales occurred near the bottom of the 2022 crypto winter, when Strategy offloaded 704 Bitcoin at $18,000 U.S. each.
Analysts note that the current sale suggests potentially larger divestments in coming weeks and months as the company navigates its financial obligations. The move highlights the growing pressure on crypto-focused treasury firms to balance their digital asset exposure with the cash flow requirements of their capital structures.
