Overview
- Strategy disclosed it sold 3,588 BTC between June 29 and July 5 to raise roughly $216 million that the company says was earmarked to pay dividends on its Nasdaq‑listed preferred shares.
- The sale reduced Strategy’s holdings to about 843,775 BTC and raised reported USD reserves to roughly $2.55–$2.6 billion, which the company says is being used to build a cash buffer for preferred payments.
- Company disclosures and reporting show this was the largest single divestment since Strategy adopted a buy‑and‑hold Bitcoin stance and that the coins were sold below the company’s average acquisition cost.
- Markets reacted quickly with lower MSTR share prices, wider spreads and higher yields on Strategy’s preferred issues, prompting analysts to debate whether sales will be one‑offs or a structural, recurring practice.
- Strategy has also released a public simulator that models how long preferred dividends and obligations could be met under different Bitcoin return scenarios, a tool investors can use to test the firm’s payout resilience.