Strategy sells 32 Bitcoin to help fund preferred stock distributions. The company disclosed the sale in an 8‑K filing last week.
The proceeds came to about $2.5 million. Strategy expects to use this money for payments on its perpetual preferred stock (STRC).
Why Strategy sells 32 Bitcoin now
The sale happened before Executive Chairman Michael Saylor made his first public comment on the matter. Instead of explaining the Bitcoin disposal, he promoted STRC.
“Our goal is to make STRC the best credit instrument in the world,” Saylor wrote on X on Monday.
Strategy has built its public identity around Bitcoin accumulation. However, this latest disclosure shows how the company uses capital tools around that position. Saylor has often said that Strategy judges financing decisions through Bitcoin per share and shareholder value. In that framework, the company does not only focus on increasing the total Bitcoin balance.
Details of the sale and recent strategy
The company sold 32 Bitcoin at an average price of $77,135. Recently, Bitcoin traded near $70,889 after slipping from higher levels. Back in February, prices reached as low as $60,000.
As previously reported, Strategy paused its Bitcoin purchases last week. Instead, it moved to repurchase convertible debt. The company chose to buy bonds rather than add more Bitcoin. Saylor said the “BitVac is charging.”
Earlier disclosures showed that Strategy plans to repurchase nearly $1.5 billion in face value of its $1.38 billion in cash. Strategy said the transaction could be funded through cash reserves, stock sales, and possible Bitcoin sales.
Market bottom questions resurface
Crypto traders on X have long joked that Strategy often buys Bitcoin near weekly highs. However, the company’s only previous Bitcoin sale occurred in December 2022. At that time, Bitcoin traded near $18,000 after the FTX collapse.
This time, Strategy sold after Bitcoin had already retreated from higher levels. Therefore, the sale has revived comparisons with its 2022 disposal. Nevertheless, the company has not described the move as a market call.
Before the latest filing, Saylor said in an interview that it was “not unlikely” Strategy could sell some Bitcoin before the end of 2026. He also said that models based only on equity, credit, or Bitcoin performed worse than a flexible capital allocation approach.