Strategy Sells 32 Bitcoin for $2.5M to Fund Preferred Dividends, First Sale Since 2022 - "The Defiant"

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Strategy sold 32 bitcoin for about $2.5 million between May 26 and May 31, earmarking the proceeds to fund cash distributions on its preferred stock, the company disclosed in an 8-K filing Monday.

The sale was executed at an average net price of $77,135 a coin and leaves Strategy holding 843,706 BTC at a blended cost basis of $75,699, according to the filing. A footnote to the BTC update stated that "proceeds from the bitcoin sales are expected to be used to fund distributions on preferred stock."

This is the first BTC disposal Strategy has reported since December 22, 2022, when its MacroStrategy subsidiary sold 704 BTC for roughly $11.8 million at an average $16,776 a coin and then repurchased 810 BTC two days later. It was a tax-loss harvest, not an operating-need disposal.