Strategy (MSTR) dropped 4.7% in premarket trading Monday after the company disclosed it sold 32 Bitcoin last week — its first sale of the cryptocurrency since 2022.
The sale, revealed in an SEC filing, covered the period from May 26 to May 31. Strategy received an aggregate price of $2.5 million, with an average sale price of $77,135 per coin.
Bitcoin itself fell around 2% to roughly $71,960 over the same period, with the disclosure appearing to weigh on the price.
ALERT: MICHAEL SAYLOR SOLD BITCOIN
Strategy sold 32 Bitcoin for $2.5 Million at an average price of $77,135. pic.twitter.com/MlXfy263OV
— Arkham (@arkham) June 1, 2026
The last time Strategy sold Bitcoin was in 2022, and that was strictly for tax purposes. This sale is different — the proceeds are intended to fund distributions on the company’s preferred stock.
That lines up with comments made by CEO Phong Le just weeks ago, when he said the company would sell crypto “when it is advantageous to do so.” Executive Chairman Michael Saylor had previously said the company would never sell Bitcoin.
As of May 31, Strategy still holds 843,706 Bitcoin. The total purchase price on that position sits at $63.87 billion, with an average cost basis of $75,699 per coin.
So the 32 Bitcoin sold represents a tiny slice of the overall holdings. But the optics of breaking a long-standing policy still moved the stock.
Alongside the Bitcoin sale, Strategy also sold 801,994 common stock through its at-the-market offering program, generating $128.3 million in net proceeds. The company has $26.1 billion remaining under that program, which was expanded by $21 billion back in March 2026.
The company’s board declared cash dividends payable June 30, 2026, to stockholders of record as of June 15.
The 10.00% Series A Perpetual Strife Preferred Stock (STRF) will receive $2.50 per share. The Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) will receive $0.958333333 per share.
Strategy also confirmed it will maintain an 11.50% annual dividend rate on the STRC for monthly periods beginning June 1, 2026.
As of May 31, the company’s USD Reserve balance stood at $900 million. That reserve is specifically designated to cover dividend payments on preferred stock and interest on outstanding debt.
The sale of Bitcoin — however small relative to total holdings — is a clear signal that Strategy is now willing to use its crypto assets to meet financial obligations when needed.
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