Strategy sold $2.5 million in Bitcoin for the first time since 2022, a major pivot from its 'never sell' policy. The sale of 32 BTC is intended to fund dividends for its preferred stock. The news prompted a drop in both Strategy's (MSTR) share price and the price of Bitcoin, amid a broader cooling trend among corporate crypto treasuries.
Strategy bitcoin sale
- ▪The company's last sale in December 2022 was a tax-loss transaction, where it sold 704 BTC and repurchased 810 BTC two days later
- ▪This was Strategy's first reported Bitcoin sale since December 2022
- ▪Between May 26 and May 31, 2026, Strategy sold 32 Bitcoin for $2.5 million at an average price of $77,135 per coin
STRC preferred stock dividend funding
- ▪Strategy CEO Phong Le stated the company aims to be a net aggregator of bitcoin, increasing its bitcoin per share over the long term
- ▪Proceeds from the Bitcoin sale are expected to be used to fund distributions on Strategy's preferred stock
- ▪The sale is part of a new strategy to actively manage its balance sheet, a pivot from its longstanding "never sell" approach
- ▪Executive Chairman Michael Saylor said the company will buy 10 to 20 bitcoin for every one it sells to cover dividend obligations
Strategy bitcoin holdings valuation
- ▪In the same late-May period, Strategy also sold 801,994 shares of common stock, raising $128.3 million
- ▪The total cost for these holdings was about $63.9 billion, implying a paper loss of approximately $2.9 billion at bitcoin's price on June 1, 2026
- ▪Following the sale, Strategy's total holdings dropped to 843,706 BTC
Corporate bitcoin treasury landscape
- ▪Several other digital asset treasury firms, including Nakamoto Holdings and Empery Digital, have also recently sold crypto holdings
- ▪Despite a selling trend, some firms like Bitmine and Strive continued to buy digital assets in May 2026
- ▪Corporate treasury Bitcoin purchases slowed to a combined 144 BTC in the last week of May, down from 603 BTC the previous week
MSTR stock performance decline
- ▪The price of Bitcoin also fell on the news, dropping below $72,000 to its lowest level since April 13, 2026
- ▪Following the announcement on June 1, 2026, Strategy's (MSTR) shares fell by more than 5.8%
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