Strategy, the corporate bitcoin holder formerly known as MicroStrategy, sold 32 bitcoin last week to cover its preferred stock dividend. The sale took place between May 26 and May 31, generating $2.5 million at an average price of $77,135 per coin. It's one of the company's only disclosed bitcoin liquidations since it began accumulating the asset in August 2020.
The numbers behind the sale
The 32 BTC came from Strategy's massive hoard. The company still holds 843,706 bitcoin — by far the largest publicly traded corporate stack. The sale price of $77,135 was below recent highs but still above what Strategy paid on average over years of buying. The total proceeds, $2.5 million, are a drop in the bucket for a firm whose bitcoin holdings are worth tens of billions.
Why sell now?
Strategy needed cash to pay its preferred stock dividend. The company uses its bitcoin as collateral and occasionally sells to meet obligations. This sale is rare: since 2020, Strategy has almost always been a buyer, using debt or equity to add more bitcoin. Selling even a small amount signals that the firm prioritizes maintaining its dividend schedule over hoarding every satoshi.
What remains
After the sale, Strategy's bitcoin treasury stands at 843,706 BTC. That's roughly 4% of all bitcoin that will ever exist. The company has been the most aggressive corporate accumulator, often buying in bulk during price dips. This liquidation doesn't change the big picture — but it's a reminder that even the most committed holders sometimes need to tap their reserves.
The sale covered the preferred stock dividend, keeping the company's obligations current. With bitcoin trading where it is, investors will watch for any signal that Strategy might sell more — or resume its buying spree. For now, the firm's bet remains largely intact.
