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Michael Saylor’s Strategy Sold <a href="https://jpygbp.com/btc-usd/">Bitcoin</a>: Here Is Why

Key Takeaways

  • Strategy sold 32 BTC between May 26-31 at an average price of $77,135
  • Total proceeds of $2.5 million directed entirely to fund preferred stock dividend payments
  • Strategy simultaneously raised $128.3 million by selling 801,994 MSTR shares
  • Total Bitcoin holdings now stand at 843,706 BTC at an average purchase price of $75,699
  • USD Reserve balance sits at $900 million as of May 31st

Between May 26th and May 31st, Strategy sold 32 Bitcoin for an average of $77,135 each, bringing in $2.5 million. According to a regulatory filing, the money was used to pay dividends to its preferred shareholders. Essentially, Strategy needed cash to make those payments, and they chose to sell some of their Bitcoin holdings to get it.

That covers everything. We haven’t altered our long-term plan, we’re not trying to predict market swings, and the company is financially stable. Payments to preferred stockholders are fixed and must be made in US dollars on a specific timeline. Bitcoin can’t be used for these payments, but cash can. Selling 32 Bitcoin allowed us to convert a small portion of our holdings into the dollars needed to fulfill those payment obligations.

What the Preferred Stock Obligations Actually Are

Strategy offers different types of preferred stock, each with a fixed dividend rate. On June 30th, the company announced dividend payments to shareholders who owned stock as of June 15th. These payments are as follows: STRF will pay $2.50 per share, representing a 10% annual dividend rate; STRK will pay $2.00 per share, an 8% annual rate; STRD will pay $2.50 per share at a 10% annual rate; and STRC, which has a variable rate, is currently set at 11.50% annually, resulting in a payment of approximately $0.958 per share for June.

These payments are required. Preferred dividends have a higher claim on company assets than common stock, and must be made no matter how Bitcoin performs.

The Rest of the Capital Activity

As a researcher tracking our company’s financial activity, I’ve found that our Bitcoin sale was actually quite small compared to other moves we made that week. We raised a much larger amount – $128.3 million – by selling 801,994 shares of our common stock through our existing offering program. This stock sale significantly outweighed the $2.5 million we received from the Bitcoin sale and represented the most important source of liquidity during that period.

Strategy also holds $900 million in a USD reserve, created in December 2025, to cover payments like preferred stock dividends and debt interest. This reserve is designed to operate independently of Bitcoin holdings, making the recent sale of 32 BTC seem like a standard transaction.

What This Means

The sale of 32 Bitcoin represents a very small portion – less than 0.004% – of the total 843,706 BTC held. These Bitcoins were sold at an average price of $77,135 each, slightly higher than the overall average purchase price of $75,699. The document shows no new Bitcoin purchases were made during this time. Based solely on this filing, the sale appears to have been a simple dividend payment.

This article is for informational purposes only and shouldn’t be taken as financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Before making any investment choices, be sure to do your own research and talk to a qualified financial advisor.

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2026-06-01 16:27