The company that turned “buy Bitcoin and never sell” into a corporate identity just sold some Bitcoin. Strategy, the treasury firm chaired by Michael Saylor, unloaded 3,558 BTC for roughly $216 million between June 29 and July 5, using the proceeds to cover dividend payments on its perpetual preferred stock, STRC.
What happened and why it matters
The sale, announced on July 6, wasn’t Strategy’s first dip into the Bitcoin liquidation pool. Back in late May, the company sold a much smaller batch of 32 BTC for approximately $2.5 million, also earmarked for dividend obligations.
After both sales, Strategy still holds 843,775 BTC, acquired at an average cost of $75,476 per coin.
Strategy isn’t selling because it’s bearish on Bitcoin. It’s selling because it has bills to pay. Specifically, dividend obligations on STRC, its perpetual preferred stock instrument that Saylor has been positioning as a premier digital credit product.
