MicroStrategy Sells 32 BTC for $2.5M, Triggers $15M Dispute
MSTR•Strategy sold 32 BTC (~$2.5M) at an average net price of $77,135 per coin to fund its perpetual preferred stock dividends, triggering a $15M Polymarket dispute over contract settlement timing. The sale accounted for 0.004% of its 843,706 BTC holdings and occurred above its average cost of $75,699 per coin.
1. Bitcoin Sale Details
Between May 26 and May 31, Strategy sold 32 Bitcoin at an average net price of $77,135 per coin, generating $2.5 million to fund preferred stock dividends. The transaction, representing 0.004% of its 843,706 BTC holdings, triggered a $15 million contract settlement dispute on Polymarket.
2. Preferred Stock Dividend Obligations
Strategy’s perpetual preferred stock (STRC) carries an 11.5% annual dividend, with 23 distributions totaling over $693 million since early 2025. STRC has grown to an $8.5 billion market cap after raising $5.6 billion in gross proceeds year-to-date.
3. Balanced Capital Strategy
To manage cash reserves, the company repurchased $1.38 billion of its 2029 convertible notes at an 8% discount, reducing USD reserves to approximately $900 million. Strategy maintains a policy of net Bitcoin accumulation, targeting 10–20 purchases for each coin sold to meet long-term dividend coverage requirements.
