Strategy (MSTR) Shares Drop Nearly 5% Following First Bitcoin Sale in Three Years

Key Takeaways

Table of Contents

The company offloaded 32 Bitcoin during the final week of May for approximately $2.5 million
Shares of MSTR declined 4.7% during Monday’s premarket session
The cryptocurrency also experienced a roughly 2% decline following the announcement
Funds from the sale will be allocated toward distributions on preferred shares
The firm maintains ownership of 843,706 Bitcoin with an average acquisition cost of $75,699

Shares of Strategy (MSTR) slid 4.7% during Monday’s premarket hours after the firm revealed it had offloaded 32 Bitcoin in late May — representing its first cryptocurrency sale in three years.

Strategy Inc, MSTR

According to a regulatory filing submitted to the SEC, the transaction occurred between May 26 and May 31. The company netted a total of $2.5 million from the sale, translating to an average price of $77,135 per token.

Bitcoin experienced a decline of approximately 2% to around $71,960 during the corresponding timeframe, with market observers attributing part of the pressure to the disclosure.

ALERT: MICHAEL SAYLOR SOLD BITCOIN

Strategy sold 32 Bitcoin for $2.5 Million at an average price of $77,135. pic.twitter.com/MlXfy263OV

— Arkham (@arkham) June 1, 2026

Strategy’s previous Bitcoin sale occurred in 2022 and was executed solely for tax-loss harvesting purposes. This recent transaction differs substantially — the capital raised will be directed toward satisfying obligations on the company’s preferred equity.

The move aligns with recent statements from CEO Phong Le, who indicated several weeks ago that the firm would divest cryptocurrency holdings “when it is advantageous to do so.” This represents a departure from previous statements by Executive Chairman Michael Saylor, who had maintained the company would retain its Bitcoin indefinitely.

Details From the Regulatory Disclosure

As of the end of May, Strategy’s Bitcoin portfolio totaled 843,706 tokens. The aggregate purchase price for these holdings amounts to $63.87 billion, establishing an average cost basis of $75,699 per coin.

While the 32 Bitcoin sold constitutes an insignificant fraction of the company’s total cryptocurrency reserves, the decision to reverse its longstanding hold-only policy created negative sentiment among investors.

In addition to the cryptocurrency transaction, Strategy divested 801,994 shares of common stock through its at-the-market equity offering mechanism, producing $128.3 million in net proceeds. The firm retains $26.1 billion in capacity under this program, which was increased by $21 billion in March 2026.

Preferred Stock Distributions and Cash Reserves

The company’s board of directors approved cash distributions payable on June 30, 2026, to shareholders of record as of June 15.

Holders of the 10.00% Series A Perpetual Strife Preferred Stock (STRF) will receive $2.50 per share. The Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) will pay $0.958333333 per share.

Strategy also confirmed it will continue an 11.50% annualized dividend rate on the STRC for monthly periods commencing June 1, 2026.

As of May 31, the company reported a USD Reserve balance of $900 million. This reserve fund is earmarked specifically for satisfying dividend obligations on preferred shares and servicing interest payments on outstanding debt instruments.

The Bitcoin sale — despite representing a minimal percentage of total cryptocurrency assets — demonstrates that Strategy is now prepared to liquidate digital assets when necessary to fulfill financial commitments.

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