Bitcoin treasury firm Strategy has sold 32 Bitcoin worth approximately $2.5 million, marking its first reported BTC sale since a tax-loss transaction in 2022.
According to a filing with the U.S. Securities and Exchange Commission (SEC), the company sold the Bitcoin at an average price of $77,135 per coin, reducing its total holdings from 843,738 BTC to 843,706 BTC. The proceeds are expected to be used to fund distributions related to the company’s preferred stock offerings.
Following the disclosure, shares of Strategy (NASDAQ: MSTR) fell more than 6% during Monday trading, reflecting investor concerns over the company’s financing model and future Bitcoin strategy.
The sale comes amid growing scrutiny of Strategy’s preferred stock programs, with some investors questioning whether dividend obligations could eventually force the company to liquidate portions of its Bitcoin reserves.
In addition to the Bitcoin sale, Strategy sold nearly 802,000 Class A shares during the last week of May, raising approximately $128.3 million.
The move surprised some market participants after Executive Chairman Michael Saylor hinted at potential Bitcoin-related activity over the weekend without mentioning any planned sale. Crypto analytics platform Arkham had previously reported Bitcoin transfers from Strategy-linked wallets to Coinbase Prime, fueling speculation of a possible transaction.
Meanwhile, Strategy CEO Phong Le recently acknowledged that the company may sell Bitcoin in the future but emphasized that its overall strategy remains focused on increasing Bitcoin holdings and Bitcoin ownership per share over time.
The transaction also comes as corporate Bitcoin accumulation shows signs of slowing. Several publicly traded firms have reduced purchases or sold small portions of their holdings to support capital management initiatives, signaling a more cautious approach amid ongoing market volatility.
Bitcoin briefly fell below $72,000 following the disclosure before stabilizing, highlighting the market’s sensitivity to activity from one of the world’s largest corporate Bitcoin holders.
