Strategy has completed its first major Bitcoin sale, selling 3,588 BTC for about $225.6 million. Despite this, the company still holds one of the largest corporate Bitcoin reserves. Last month, it sold just 32 BTC, which analysts viewed more as a signal than a real policy shift.
According to Strategy’s official website, the ‘BTC Acq’ numbers for June 30 and July 6 are −1,363 BTC and −2,225 BTC. Combined, this means a reduction of 3,588 BTC, worth about $225.6 million at current prices. The sale was made to fund dividend payments on Strategy’s Digital Credit securities, according to Executive Chairman Michael Saylor, who said on July 6 that the company sold 3,588 BTC for approximately $216 million while retaining 843,775 BTC and $2.55 billion in U.S. dollar reserves as of this moment.
The move suggests the transaction was driven by capital management and shareholder obligations rather than a change in Strategy’s long-term Bitcoin investment thesis. Despite the BTC sales, the company remains the largest publicly traded corporate holder of Bitcoin.
Earlier this year, a Form 8‑K filing with the U.S. Securities and Exchange Commission disclosed that Strategy sold 32 BTC between May 26 and May 31 for about $2.5 million. In that filing, the company said it expects to use the proceeds “to fund distributions on preferred stock,” and it presented the sale as balance‑sheet management rather than a broader exit from Bitcoin.
Notably, this was the first reported net reduction in Strategy’s BTC stack outside a 2022 tax‑loss move, and the sale was argued to be intended to “showcase the measures they can implement to safeguard preferred shareholders if necessary.”
Strategy Records First Major Bitcoin Sale After Years of Buying
The new 3,588 BTC reduction marks Strategy’s first large‑scale sale after years in which markets knew the company almost entirely for aggressive accumulation.
Previously, SEC filings and treasury trackers showed a steady climb in holdings, with the company buying thousands of coins per month and reaching more than 845,000 BTC by early June through repeated equity and debt offerings. Because of that history, even a single‑digit percentage trim grabs the attention of traders who watch Strategy as a levered proxy for Bitcoin’s price.
Yet Strategy still describes Bitcoin as its “primary treasury reserve asset” in filings, and its most recent purchases show it remains willing to buy dips after small sales. The latest reduction may reflect balance‑sheet and preferred equity needs rather than a full rethink of its long‑term Bitcoin thesis, which emphasizes that BTC is “digital property superior to conventional assets.”
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