Michael Saylor’s company sold some Bitcoin. Read that sentence again, because it hasn’t been true since 2022.
Strategy, the firm formerly known as MicroStrategy, disclosed in an SEC 8-K filing on June 1 that it sold 32 BTC for approximately $2.5 million between May 26 and May 31. The average sale price came in around $77,135 per coin after fees. The proceeds were earmarked for distributions on the company’s preferred stock.
In raw numbers, 32 BTC represents roughly 0.004% of Strategy’s total holdings of approximately 843,700 BTC. Strategy’s shares dropped about 5.85% following the disclosure. Bitcoin itself fell approximately 2%, sliding to its lowest level since mid-April.
The end of “never sell”
Discussions led by CEO Phong Le and Saylor himself suggest the company may sell BTC in the future when doing so benefits per-share metrics. In plain English: if selling a sliver of Bitcoin makes the stock look better on a per-share basis, management is now willing to pull that trigger.
