Strategy (MSTR) sells 32 BTC for $2.5 million, first bitcoin sale in four years, to fund preferred stock dividends
By
Shaurya Malwa, James Van Straten
5d ago· 3 min readenNews
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Summary
Strategy (MSTR), the largest publicly traded bitcoin holder, sold 32 BTC for $2.5 million between May 26-31 at an average price of $77,135 — its first bitcoin sale in four years. The sale was used to fund dividend payments on its perpetual preferred stock (STRC). The amount sold represents just 0.0038% of the company's total holdings of over 843,700 BTC. The disclosure was made in an 8-K filing on Monday.
Key quotes
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Strategy still held more than 843,700 BTC at month-end, purchased at an average cost of $75,699.
That means the sale accounted for just 0.0038% of the company's holdings.
Proceeds from the May 26-31 sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy's preferred stock.
The 8-K filing Monday says proceeds from the May 26-31 sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy's preferred stock.
