Strategy sold 32 Bitcoin for about $2.5 million over the last week of May, according to an 8-K filing with the SEC on Monday. The transactions, which took place between May 26 and 31, were executed at an average price of $77,135 per BTC. The company said the proceeds will go toward distributions on its preferred stock.
The sale in numbers
At $77,135 per coin, the 32 BTC sale netted roughly $2.47 million. That's a modest dip from Bitcoin's current market price — though the filing doesn't specify the exact timing of each trade. Strategy didn't comment on whether the sale was part of a prearranged plan or a one-off move to cover the dividend-like payments on its preferred shares.
Why sell now
Preferred stock distributions are a recurring obligation. For Strategy, which holds a massive Bitcoin treasury, selling a small slice to meet those payments is routine. But the timing — just days before the end of the quarter — could signal that the company wanted to lock in liquidity before the June distribution date. The 8-K doesn't detail the exact amount of the upcoming payout, only that the sale proceeds are earmarked for it.
What the filing shows
The 8-K, filed Monday June 1, is the standard disclosure for a material event. It lists the sale period, the number of coins, the average price, and the intended use of funds. No additional context on Strategy's overall Bitcoin holdings — the company last reported holding over 230,000 BTC as of its Q1 earnings. The filing doesn't mention any plans for further sales.
For now, the distribution is funded. Whether Strategy will need to sell more BTC before the next preferred dividend date will depend on its cash position and the price of Bitcoin between now and then.
