Strategy Sells Bitcoin For First Time Since 2022 Tax-Loss Trade
Strategy sold 32 BTC between May 26 and May 31 for about $2.5 million, its first disclosed Bitcoin sale since the December 2022 tax-loss-harvesting transaction. The company said proceeds will help fund distributions on preferred stock, signaling a willingness to use a tiny slice of its Bitcoin holdings to support its capital structure. As of May 31, Strategy held 843,706 BTC bought for $63.87 billion, so the sale barely reduced its position. In the same period, it sold 801,994 MSTR shares through its at-the-market program, raising $128.3 million net. Strategy also reported $900 million in US dollar reserves, which it says supports preferred dividends and debt interest. The company has declared upcoming cash dividends across several preferred share classes. Michael Saylor has suggested Bitcoin sales could occur in some circumstances, but he has also indicated Strategy expects to buy more BTC than it sells.
