TL;DR
Bitcoin treasury firm Strategy has sold 32 BTC for roughly $2.5 million, marking its first Bitcoin sale in more than three years and trimming its holdings to 843,706 BTC. The move, disclosed in a new SEC filing, comes as the company continues balancing its aggressive accumulation model with funding obligations tied to its preferred stock programs.
According to the filing, Strategy sold the 32 BTC between May 26 and May 31 at an average price of $77,135 per coin. The last time the company sold Bitcoin was in December 2022, when it offloaded 704 BTC before repurchasing 810 BTC two days later in a tax loss trade. The firm said proceeds from the latest sale will support distributions on its preferred stock. After the reduction, Strategy’s holdings stand at 843,706 BTC, valued at around $61 billion and acquired at an average price of $75,699 for a total cost of $63.9 billion. The position represents more than 4% of Bitcoin’s fixed supply and carries an implied paper loss of about $2.9 billion.
Last week, Strategy sold 801,994 MSTR shares for approximately $128.3 million, leaving $26.1 billion available under its at-the-market program. The company recently expanded its ATM capacity to include up to an additional $21 billion of MSTR, $21 billion of STRC preferred stock, and $2.1 billion of STRK preferred stock.
Onchain data from Arkham Intelligence showed Strategy moving 411.6 BTC from Coinbase Prime to a cold wallet on May 28, pushing market odds of a sale before 2026 to 84%. Executives had already signaled the possibility during the first‑quarter earnings call, noting that BTC sales may be used to fund STRC dividends.
Strategy also repurchased $1.5 billion in zero‑coupon 2029 convertible notes for $1.38 billion, funded from its $2 billion cash reserve. Its USD Reserve now sits at $900 million. Despite Strategy purchasing 2.6 times the amount of Bitcoin mined in 2026, its stock fell 3.1% last week to $159.09 and remains down roughly 65% from 2025 highs. Bitcoin declined 4.7% over the same period.
