Key Takeaways
- Between May 26 and May 31, Strategy liquidated 32 Bitcoin for $2.5 million—the company’s first crypto sale since 2022
- Shares of MSTR plummeted 4.7% during premarket hours on Monday
- Bitcoin prices declined approximately 2% after the announcement became public
- The sale proceeds will be allocated toward preferred stock dividend obligations
- Despite the sale, Strategy maintains a position of 843,706 Bitcoin with an average acquisition cost of $75,699
Shares of Strategy (MSTR) plunged 4.7% in Monday’s premarket session following the revelation that the firm liquidated 32 Bitcoin during the final week of May — representing the company’s first cryptocurrency sale in three years.
According to regulatory documents filed with the SEC, the transaction occurred between May 26 and May 31. The company collected a total of $2.5 million from the sale, translating to an average exit price of $77,135 per Bitcoin.
Bitcoin experienced a roughly 2% decline to approximately $71,960 during this timeframe, with market observers attributing part of the downturn to Strategy’s disclosure.
Strategy’s previous Bitcoin sale occurred in 2022, and that transaction was executed solely for tax-loss harvesting purposes. This recent sale differs significantly — the funds will be deployed to satisfy distribution requirements for the company’s preferred stockholders.
This move aligns with recent statements from CEO Phong Le, who indicated just weeks earlier that the firm would divest crypto assets “when it is advantageous to do so.” This stance contrasts sharply with previous declarations from Executive Chairman Michael Saylor, who had maintained that the company would never liquidate its Bitcoin holdings.
Breaking Down the SEC Filing
As of the end of May, Strategy’s Bitcoin treasury totaled 843,706 coins. The aggregate purchase value for this position amounts to $63.87 billion, establishing an average cost basis of $75,699 per Bitcoin.
While the 32 Bitcoin sale constitutes an insignificant fraction of Strategy’s total crypto reserves, the symbolic breaking of a longstanding no-sell commitment clearly impacted investor sentiment.
In addition to the cryptocurrency transaction, Strategy divested 801,994 shares of common stock through its at-the-market equity offering framework, producing $128.3 million in net capital. The company retains $26.1 billion in capacity under this program, which received a $21 billion expansion in March 2026.
Dividend Declarations and Cash Reserves
The company’s board of directors authorized cash dividend payments scheduled for June 30, 2026, benefiting shareholders on record as of June 15.
Holders of the 10.00% Series A Perpetual Strife Preferred Stock (STRF) will collect $2.50 per share. Investors in the Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) will receive $0.958333333 per share.
Strategy additionally confirmed it will preserve an 11.50% annualized dividend rate for STRC shareholders during monthly periods commencing June 1, 2026.
The company 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 obligations.
While modest in scale relative to Strategy’s massive Bitcoin holdings, this sale represents a meaningful policy shift — demonstrating the company’s willingness to tap its cryptocurrency reserves to satisfy financial commitments when circumstances warrant.
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