Key Takeaways
- Between May 26-31, Strategy liquidated 32 Bitcoin for approximately $2.5 million, marking its first sale since 2022
- Shares of MSTR declined 4.7% during premarket hours on Monday
- The cryptocurrency also experienced a ~2% decline following the announcement
- Sale proceeds will be allocated toward preferred stock dividend payments
- The company maintains holdings of 843,706 Bitcoin with an average acquisition price of $75,699
Shares of Strategy (MSTR) tumbled 4.7% during Monday’s premarket session following the company’s announcement that it liquidated 32 Bitcoin during the final week of May — representing its first cryptocurrency sale in two years.
According to a regulatory filing submitted to the SEC, the transaction occurred between May 26 and May 31. The company realized total proceeds of $2.5 million, equating to an average sale price of approximately $77,135 per Bitcoin.
Bitcoin experienced its own decline of roughly 2%, trading around $71,960 during the same timeframe, with market participants responding to Strategy’s disclosure.
Strategy’s previous Bitcoin sale occurred in 2022 and was executed solely for tax-loss harvesting purposes. The current transaction marks a departure from that strategy, as the funds will be deployed to satisfy dividend obligations on the company’s preferred stock.
This move aligns with recent statements from CEO Phong Le, who indicated the firm would liquidate cryptocurrency holdings “when it is advantageous to do so.” This represents a shift from Executive Chairman Michael Saylor’s earlier position that the company would maintain its Bitcoin indefinitely.
Details from the SEC Filing
Strategy’s Bitcoin portfolio remains substantial despite the sale. As of May 31, the company’s holdings totaled 843,706 Bitcoin. The aggregate investment in these holdings amounts to $63.87 billion, establishing an average cost basis of $75,699 per coin.
The 32 Bitcoin sale constitutes a minimal fraction of Strategy’s overall cryptocurrency position. However, the policy reversal proved significant enough to trigger negative market sentiment around the stock.
In addition to the Bitcoin transaction, Strategy divested 801,994 shares of common stock through its at-the-market equity program, producing $128.3 million in net proceeds. The company retains $26.1 billion in available capacity under this program, which was increased by $21 billion in March 2026.
Dividend Announcements and Cash Reserves
Strategy’s board of directors approved cash dividend distributions scheduled for payment on June 30, 2026, to shareholders registered as of June 15.
Holders of the 10.00% Series A Perpetual Strife Preferred Stock (STRF) will receive $2.50 per share. Meanwhile, the Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) will pay out $0.958333333 per share.
The company also confirmed the continuation of an 11.50% annual dividend rate on STRC shares for monthly periods commencing June 1, 2026.
Strategy reported a USD Reserve balance of $900 million as of May 31. This reserve fund is earmarked exclusively for servicing preferred stock dividends and debt interest payments.
While modest in scale compared to total holdings, the Bitcoin sale demonstrates Strategy’s willingness to liquidate cryptocurrency assets to fulfill financial commitments when circumstances warrant such action.
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