Strategy Sells 32 BTC at $77K, Pressures Preferred Stock Coverage
STRC•STRC•STRC•STRC•Michael Saylor’s Strategy sold 32 BTC at an average price of $77,000, a first such sale after years of accumulation. The preferred stock now faces pressure to return to par $100 by its ex-dividend date with only six months of dividend coverage remaining.
Strategy disclosed it sold 32 Bitcoin at an average of $77,000 per coin, marking its first crypto liquidation after years of accumulation and reflecting a small fraction of its multi-billion-dollar treasury.
Bitcoin’s price dipped below $72,000 following the disclosure, highlighting investor concern over potential future corporate sales by the company long known as a major Bitcoin accumulator.
The preferred stock now must return to its $100 par value by the ex-dividend date, with only six months of dividend coverage remaining, prompting plans to issue new shares to rebuild its cash buffer.
