Michael Saylor's Bitcoin Treasury Firm Strategy Sells 32 BTC for $2.5M
Summary
Strategy sold 32 BTC for about $2.5 million, at an average price of $77,135 per coin, reducing its holdings to 843,706 BTC valued at roughly $61 billion. The company said the proceeds will help fund preferred stock distributions. The sale marks a shift from its long-standing “never sell” position, which has recently softened: Michael Saylor said the firm might sell Bitcoin to fund dividends, and CEO Phong Le said it would sell when advantageous, including to improve Bitcoin-per-share value. The move pressured market sentiment, and Bitcoin fell to just above $72,000, down about 2.4% on the day. Strategy had previously sold BTC only once before, in December 2022, as part of a tax-loss harvesting move.
