Strategy Sells 3,588 Bitcoin and Raises $216 Million
The proceeds will go toward preferred stock payouts and the dollar reserve, while Strategy trims its BTC holdings for the first time since 2022.
Key Takeaways
- Strategy sold 3,588 Bitcoin last week for about $216 million, according to a Monday SEC filing.
- That reduced the company’s Bitcoin stash to 843,775 BTC, marking the largest sale in Strategy’s history.
- The money will go toward preferred stock payouts and rebuilding the U.S. dollar reserve.
Strategy (MSTR) sold 3,588 Bitcoin last week for roughly $216 million (€189 million), according to a Monday SEC filing. The move brought its total Bitcoin holdings down to 843,775 BTC and marks the biggest sale in the company’s history. It also breaks with the buy-and-hold strategy Strategy has been associated with since 2020.
Sale to Fund Payouts
The company said the cash from the sale will be used to cover preferred stock payouts and restore the portion of its U.S. dollar reserve that was earmarked for those payments. As of July 5, that reserve totaled $2.55 billion (€2.2 billion). Strategy sold the Bitcoin at an average price of about $60,000 (€52,400) per coin, well above the levels where it accumulated most of its position.
The sale is notable because Strategy spent years as one of the loudest corporate buyers of Bitcoin. Since August 2020, it has built its holdings to more than 843,700 BTC, or about 4% of the total supply. Before this week, the company had only sold Bitcoin once, in December 2022, when it offloaded 704 BTC.
What This Says About Strategy
The latest sale suggests Strategy is treating its Bitcoin stack not only as a treasury asset, but also as a funding source for other financial commitments. For European crypto readers, that is a useful reminder of how a large public company can put a BTC reserve to work inside a wider capital structure. For the market, the bigger takeaway is simple: when a company this large sells Bitcoin, people notice immediately.
Strategy also said it did not sell any shares through its at-the-market equity program or repurchase any shares under its buyback programs during the week through July. The company added that the full $1.25 billion (€1.1 billion) capacity under its recently announced BTC Monetization Program is still available. Strategy shares were down 2% in premarket trading, while Bitcoin slipped to $61,900 (€54,100) after trading around $62,900 (€54,900) earlier on Sunday.
Strategy’s latest move fits into a broader shift already visible in its capital policy, including the Bitcoin sale plan it unveiled at the end of June to support liquidity and preferred payments.
