Benchmark's Mark Palmer also initiated coverage of the stock with a Buy rating and $32 price target as ASST shares fell about 4% pre-market.

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 sold 32 BTC for $2.5M at $77,135 to fund preferred dividends, a rare move for the firm holding 843,706 BTC.

Strategy's remaining holdings still account for more than 4% of the 21 million bitcoin supply cap — worth around $61 billion.

...consistently posted by Saylor in the days ahead of news of a purchase by the biggest publicly traded Bitcoin holder.

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

Strategy sold 32 BTC for $2.5M between May 26-31, earmarking proceeds for preferred-stock dividends — first sale since the 2022 tax-loss harvest.

Strive (ASST) plans to expand its capital raise by $4.2 billion to accelerate aggressive Bitcoin accumulation.

Strategy's last sale preceded a massive buying spree, but the company and the market look very different today.

The bitcoin-hoarding firm founded by Michael Saylor sold 32 coins last week for $2.5 million to fund distributions on its preferred stock

Benchmark's Mark Palmer initiated coverage with a Buy rating and $32 price target as ASST shares fell 3.59% pre-market.

Benchmark's Mark Palmer also initiated coverage of the stock with a Buy rating and $32 price target as ASST shares fell about 4% pre-market.

Strive purchased 2,500 Bitcoin for approximately $185 million between May 23 and June 1, growing its BTC war chest to 19,000 BTC.

Strive added 2,500 BTC for $185.2 million, boosting its holdings to 19,000 BTC and cementing its position among the largest public corporate Bitcoin holders.

In an initiation note, Benchmark said the company has "one of the most differentiated capital structures in the bitcoin treasury sector."

Strive purchased 2,500 bitcoin, raising its holdings to 19,000 BTC, while also expanding cash reserves. The company is positioning itself for future

Benchmark-StoneX analysts grew bullish towards Strive after the Bitcoin-buying asset manager padded cash reserves while growing its stockpile.