MicroStrategy (now Strategy Inc.) sold 32 bitcoin between May 26 and May 31, according to a June 1 Form 8-K filing. The sale netted about $2.5 million at an average price of roughly $77,135 per BTC — a premium over the market's $72,000–$74,000 range at the time. It's the company's first bitcoin sale in years.
A rounding error in a 843,706 BTC pile
The 32 BTC represent less than 0.004% of MicroStrategy's total holdings. As of May 31, the firm held 843,706 BTC with a cost basis of about $63.87 billion, or $75,699 per coin. The sale is a rounding error by any measure, but it breaks a long streak of accumulation-only behavior.
Why sell now
Proceeds are earmarked for preferred stock dividends on the STRF and STRC shares. MicroStrategy also maintains a $900 million USD reserve for obligations, so the sale isn't driven by a cash crunch. The timing suggests the company saw a chance to lock in a premium — the $77,135 average was above both its own cost basis and the prevailing market price.
One Polymarket bettor cashes in
A trader on Polymarket, going by 'Surprised-Legacy', bet YES when the probability of a MicroStrategy sale sat around 11%. After the filing confirmed the sale, that bet is now worth roughly $200,000. The market had clearly doubted any sale would happen — for good reason, given MicroStrategy's long history of buying and never selling.
MicroStrategy has historically built its bitcoin stash through ATM equity offerings and preferred stock raises, buying thousands of BTC weekly. This tiny sale doesn't signal a pivot — it's a tactical move to service a specific financial obligation. The next concrete event to watch is the company's next capital raise disclosure, likely in the coming weeks, to see whether the buying spree continues at its usual pace.
