Strategy Inc. has sold a small slice of its massive Bitcoin stack for the first time in more than a year. According to a new Form 8-K filing with the U.S. Securities and Exchange Commission, the company sold 32 Bitcoin between May 26 and May 31 for about $2.5 million.
The filing shows an average sale price of roughly 77,135 dollars per coin during the period. Strategy noted that it plans to use the cash from the sale to fund dividends on its preferred stock rather than to change its core Bitcoin strategy.
This move is the firm’s first reported Bitcoin sale since December 2022, when it unloaded 704 BTC to harvest tax losses near year-end. Two days later, Strategy bought back more Bitcoin, keeping its net holdings on an upward path.
Strategy Still Holds Over 843,000 BTC
Even after the latest sale, Strategy remains the largest corporate holder of Bitcoin worldwide. As of May 31, the company held 843,706 BTC, according to the SEC filing and follow-up disclosures.
The company said it acquired those coins at a total cost of $63.87 billion. That figure works out to an average purchase price of $75,699 per Bitcoin, including fees and expenses.
In earlier updates this year, Strategy reported large Bitcoin buys funded mainly through market stock offerings. One May filing showed the firm adding 24,869 BTC in a single week for about 2.01 billion dollars, lifting its holdings above 843,000 BTC before the recent trim.
Strategy founder and executive chairman Michael Saylor long said the company would “never sell” its Bitcoin, describing BTC as a primary treasury asset. However, the December 2022 tax trade and the new 32 BTC sale show the firm is willing to adjust around that message for specific financial reasons.
In its latest filing, Strategy framed the transaction as a means to support preferred stock dividends while maintaining its overall Bitcoin position. Therefore, the company still appears committed to using Bitcoin as its main long-term reserve, even as it occasionally sells small amounts to meet funding needs.
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