MicroStrategy's 32 BTC $2.5M Sale Sparks $85M Polymarket Dispute
MSTR•MicroStrategy sold 32 BTC for approximately $2.5 million between May 26 and May 31, funding preferred stock distributions priced at $77,135 per share. This first disposition since December 2022 represents just 0.0038% of its 843,706-coin treasury and has sparked an $85 million Polymarket resolution dispute over disclosure timing.
1. Bitcoin Sale Details
MicroStrategy filed an 8-K confirming the sale of 32 BTC between May 26 and May 31 for approximately $2.5 million. This marks the firm’s first Bitcoin disposition since December 2022 and breaks the long-held belief that its leadership never sells coins.
2. Treasury Impact and Funding Use
The 32 BTC divestment equates to 0.0038% of its 843,706-coin treasury and generated proceeds earmarked to cover preferred stock distributions at $77,135 each. The move underscores capital demands tied to its roughly $15 billion preferred stock liability and recent convertible debt buyback.
3. Polymarket Dispute Mechanics
Polymarket’s binary market event saw $85 million in total volume and now hinges on whether the sale disclosure fell within its resolution window. The platform rejects confirmations made outside its timeframe, triggering a UMA Data Verification Mechanism vote over more than $20 million in disputed positions.
