MicroStrategy-Backed Firm Sells 32 BTC at $77,135, Shares Slide 6%
MSTR•Bitcoin fell to $71,479, its lowest since early April, after nearly $3B of ETF outflows over a 10-day streak. MicroStrategy-linked Strategy sold 32 BTC for $2.5M at an average $77,135 to fund preferred-stock dividends, triggering a 6% drop in MicroStrategy shares.
1. Bitcoin Price Decline and ETF Outflows
Bitcoin price dipped to $71,479, marking a near two-month low since early April. This decline follows nearly $3 billion in net outflows from Bitcoin ETFs over a 10-day streak, pushing those products to negative year-to-date flows as investors withdraw capital.
2. Strategy's Bitcoin Sale Details
Strategy, the treasury arm linked to MicroStrategy, sold 32 Bitcoin for approximately $2.5 million at an average price of $77,135. The sale was executed to generate funds for preferred-stock dividend payments outlined in the firm's recent SEC filing.
3. Impact on MicroStrategy Shares
MicroStrategy shares dropped more than 6% on the day of the sale and Bitcoin's downturn, reflecting investor concerns over reduced treasury holdings and broader market weakness. Analysts warn that visible divestment may undermine confidence in long-term Bitcoin accumulation strategies.
