Strategy Makes Its First Bitcoin Sale Since Late 2022

Strategy has sold 32 Bitcoin for approximately $2.5 million between May 26 and May 31, according to an 8-K filing with the SEC. The company said the proceeds are expected to help fund preferred stock dividend payments.

The transaction marks Strategy’s first Bitcoin sale since December 2022, when it sold 704 BTC for tax-loss harvesting purposes before repurchasing more Bitcoin two days later.

Despite the sale, Strategy remained one of the largest corporate Bitcoin holders, reporting 843,706 BTC in its reserves as of May 31. The company said those holdings were acquired for a total of $63.87 billion at an average purchase price of $75,699 per Bitcoin.

Source: Strategy (8-K Filing)