A $79 million market hinges not on whether Michael Saylor's firm sold bitcoin, but on whether a sale disclosed June 1 can count toward a deadline that passed May 31.

The 8-K filing Monday says proceeds from the May 26-31 sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy's preferred stock.

Strategy broke its long-standing HODL streak, selling bitcoin for the first time in years.