Overview
- Strategy disclosed on Monday that it sold 3,588 BTC in two tranches between June 29 and July 5 for about $216 million under a board-approved Bitcoin monetization framework.
- The company reported selling 1,363 BTC at an average of $59,256 and 2,225 BTC at an average of $60,773, leaving it with 843,775 BTC on its balance sheet.
- Proceeds were used to cover dividend distributions on its high-yield perpetual preferred securities and to replenish the U.S. dollar reserve, which the company reported at $2.55 billion as of July 5.
- Strategy recorded an $8.32 billion digital-asset loss for Q2, largely unrealized, and its large cost basis near $75,000 per coin leaves the treasury sensitive to price swings.
- The sales narrowed Strategy’s market premium, pushed MSTR shares lower and pressured bitcoin prices in the short term, though some analysts say forced liquidations remain unlikely given the company’s cash position and financing options.