Strategy Sells First Bitcoin Since 2022 to Fund Preferred Stock Distributions

• Strategy sold 32 BTC for approximately $2.5 million at an average price of $77,135 per bitcoin between May 26 and May 31.
• The sale reduces holdings to 843,706 BTC, with proceeds directed toward distributions on its STRC preferred stock.
• This is the company’s first Bitcoin sale since a 2022 tax-loss harvest, signaling a shift toward active balance sheet management while maintaining net accumulation.

Strategy, the Bitcoin treasury powerhouse led by Executive Chairman Michael Saylor, has executed its first sale of bitcoin since December 2022. According to an SEC 8-K filing, the firm disposed of 32 BTC for about $2.5 million between late May 26 and May 31 at an average price of $77,135 per coin.

The transaction trims Strategy’s total Bitcoin holdings to 843,706 BTC, purchased at an average cost basis of $75,699. At current valuations, the remaining stash is worth roughly $61 billion and represents over 4% of Bitcoin’s total supply.

Proceeds from the sale are expected to fund distributions on Strategy’s STRC preferred stock, a perpetual instrument designed to deliver high yields. The company has emphasized that such selective sales support its broader goal of net Bitcoin accumulation, with plans to repurchase more BTC than it sells over time.

This move comes shortly after Strategy executives signaled during its Q1 2026 earnings call that limited sales could help meet dividend obligations without undermining its Bitcoin-first strategy. Saylor has reiterated that the firm aims to buy 10 to 20 BTC for every one sold, framing the approach as liquidity management rather than a departure from accumulation.

Market reaction was notable: Strategy shares (MSTR) experienced downward pressure following the disclosure, though analysts described the sale volume as immaterial relative to the firm’s massive holdings. The timing also impacted prediction markets, with a Polymarket pool on sale timing seeing volatility.

Strategy continues aggressive capital markets activity, including recent extensions of its at-the-market (ATM) equity programs and a $1.5 billion convertible note repurchase. As of the end of May, the firm held approximately $900 million in cash reserves.

In a statement following the filing, Saylor reinforced confidence in STRC as a leading credit instrument backed by Bitcoin’s long-term appreciation. The company has purchased 2.6 times the Bitcoin mined year-to-date in 2026, positioning itself as a major net buyer despite the small trim.

The development underscores maturing corporate treasury strategies in crypto, where firms balance yield obligations with Bitcoin exposure amid fluctuating prices and regulatory evolution. While some investors expressed concern over any sale breaking the long-held “never sell” narrative, others view it as prudent financial engineering.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.

The post Strategy Sells First Bitcoin Since 2022 to Fund Preferred Stock Distributions appeared first on Cryptopress.