Strategy Sells 32 BTC for $2.5M; Shares Plunge 9% as Bitcoin Dips
STRC•Strategy sold 32 Bitcoin for $2.5 million to fund preferred stock distributions, marking its first crypto sale since 2022 and representing 0.004% of its 843,706 BTC treasury. Following the sale, Bitcoin dipped below $70,000 and Strategy shares tumbled 9%, signaling investor concern over its long-standing accumulation strategy.
1. Sale Details and Funding
Strategy executed its first Bitcoin sale since 2022, offloading 32 BTC between May 26 and 31 for approximately $2.5 million, with proceeds earmarked to cover preferred stock distributions.
2. Treasury Position
Even after the sale, Strategy’s holdings remain at 843,706 BTC valued above $60 billion, with an average acquisition cost of $75,699 per coin, making the recent divestment represent just 0.004% of its total crypto assets.
3. Market Reaction and Implications
The transaction coincided with Bitcoin’s slide below $70,000, triggering a 9% drop in Strategy shares as investors reassess the company’s identity as a pure Bitcoin proxy and its need to balance financial obligations.
