Strategy Sells Bitcoin for First Time, Dumps 32 BTC to Fund Preferred Stock Dividends

Why the Sale Matters

The magnitude is small. Thirty-two coins against a stack of 843,706 BTC represents a fraction of a fraction of the company’s holdings. But the crushed for the merchantability draws attention: proceeds are expected to money distributions connected preferred stock, according to the June 1 Form 8-K filed with the SEC.

Strategy has built its full individuality astir accumulation. The institution has made much than 110 reported purchases implicit six years, funded done convertible debt, equity offerings, preferred shares, and operating cash. Selling bitcoin, adjacent 32 coins, runs antagonistic to that positioning.

The Preferred Stock Dividend Picture

Strategy presently carries 5 bid of preferred banal with progressive dividend obligations. The committee declared the pursuing currency dividends connected May 30, 2026, each payable June 30:

• STRF (10.00% Strife): $2.50 per share, 4th ending June 30
• STRC (Variable Rate Stretch, 11.50%): $0.9583 per share, period ending June 30
• STRK (8.00% Strike): $2.00 per share, 4th ending June 30
• STRD (10.00% Stride): $2.50 per share, 4th ending June 30
• STRE (10.00% Stream): €2.50 per share, 4th ending June 30

The adaptable complaint connected STRC was held astatine 11.50% effectual June 1, 2026.

The USD Reserve

Strategy established a U.S. dollar reserve successful December 2025, a management-designated liquidity pool intended to screen preferred banal dividends and indebtedness interest. As of May 31, 2026, that reserve holds $900 million.

The beingness of a $900 cardinal currency reserve makes the determination to merchantability 32 BTC much notable. The institution chose to liquidate a tiny magnitude of bitcoin alternatively than gully down its dollar reserve to screen distributions. Following the record going public, BTC’s terms shuddered beneath $72,000 to an intraday debased of $71,866.

What the Stack Looks Like Now

As of May 31, Strategy holds 843,706 BTC acquired for astir $63.87 cardinal astatine an mean acquisition terms of $75,699 per coin. The steadfast besides sold 801,994 shares of MSTR communal banal betwixt May 26 and May 31, generating $128.3 cardinal successful nett proceeds nether its at-the-market offering program. Combined ATM capableness crossed MSTR and preferred banal programs totals much than $51 cardinal remaining.

The Accumulation Record

Strategy made its archetypal bitcoin acquisition successful August 2020 astatine astir $11,652 per coin. Outside a insignificant 704-coin merchantability successful December 2022 for taxation purposes, the institution has not publically reported selling bitcoin. The May 26 to May 31 merchantability brings the full disclosed liquidations to a still-negligible level comparative to holdings, but it confirms that preferred banal obligations present correspond a existent and recurring outgo the steadfast is consenting to screen with BTC erstwhile needed.