CoinDesk
Strategy sold 32 bitcoin for roughly $2.5 million last week, its first bitcoin sale in nearly four years and only the second in the company's history. Proceeds are earmarked to fund distributions on its STRC perpetual preferred stock, according to an 8-K filing.
Michael Saylor broke his silence on Monday, posting on X: "Our goal is to make STRC the best credit instrument in the world." The framing — the equity instrument, not the bitcoin disposition — was the real signal. The 32 BTC were sold at an average price of $77,135, with bitcoin now trading around $70,000 after dipping as low as $60,000 in February.
Why it matters
Strategy's only prior bitcoin sale came in December 2022 at roughly $18,000, weeks after FTX's collapse pushed prices to a cycle low near $15,000. Crypto Twitter has long joked that Strategy buys at the weekly high; a second sell at a price well below the recent local range will revive that critique. Two Wall Street analysts called the roughly $2.5M sale economically immaterial, but the optics matter more than the size — Saylor's first post-sale comment didn't even mention bitcoin.
Market impact
Saylor has repeatedly argued Strategy evaluates financing through a bitcoin-per-share lens rather than raw coin accumulation, and the company stressed the proceeds will service STRC distributions, not reduce BTC holdings meaningfully. Still, the move signals a willingness to use the bitcoin treasury to support the capital structure — a small but symbolic departure for a company whose identity is built on never selling. Watch the STRC dividend coverage ratio and any follow-on disclosure on whether this is a one-off or the start of a new pattern.
Frequently asked questions
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Why did Strategy sell bitcoin for the first time in four years?
The company sold 32 BTC for roughly $2.5 million last week, with proceeds earmarked to fund distributions on its STRC perpetual preferred stock, according to an 8-K filing. Saylor framed the move as supporting the preferred equity rather than reducing bitcoin exposure.
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How much did Strategy sell and at what price?
Strategy sold 32 bitcoin at an average price of $77,135, raising approximately $2.5 million. Bitcoin has since traded around $70,000 after dipping as low as $60,000 in February.
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What did Michael Saylor say after the bitcoin sale?
Saylor posted on X: "Our goal is to make STRC the best credit instrument in the world." His first public comment after the sale focused on the preferred stock rather than the bitcoin disposition itself.
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When was Strategy's previous bitcoin sale?
Strategy's only other bitcoin sale took place in December 2022 at roughly $18,000 per coin, weeks after the FTX collapse pushed prices to a cycle low near $15,000. The latest sale marks the company's first BTC sale in nearly four years.
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Is Strategy changing its bitcoin accumulation strategy?
Two Wall Street analysts called the $2.5M sale economically immaterial and viewed it as a tactical move to fund preferred-stock dividends. Saylor has argued Strategy evaluates capital allocation through a bitcoin-per-share lens rather than maximizing raw coin holdings.
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