Strategy announced that it sold 32 Bitcoins between May 26 and May 31. Sales occurred at an average net price of $77,135 per coin, bringing the total amount to $2.5 million, according to the company’s 8K filing with the U.S. Securities and Exchange Commission.
Purpose of sale and market impact
According to the footnote in the notification, this transaction was Strategy’s first publicly announced Bitcoin sale. It was stated that the income obtained was allocated to finance the company’s preferred share distributions. Strategy is known as a US-based software and treasury management company, previously known as MicroStrategy, which stands out for holding a large amount of Bitcoin on its balance sheet.
During the same period, the Bitcoin price briefly dropped below $72,000. According to CoinDesk data, over $90 million in Bitcoin futures positions were liquidated during this move. Although Strategy’s sales price was above the company’s average cost, it remained above Monday’s spot market level.
Between May 26 and May 31, Strategy sold 32 Bitcoins for an average net price of $77,135, generating $2.5 million in revenue; The company stated that this resource will be used for privileged share distributions.
Share sales and cash reserves
The company also raised $128.3 million under an in-market share sale program during the week. With a small portion of this resource, it increased its cash reserves in US dollars from $871 million to $900 million. In the notification, it was seen that a significant part of the previous decrease in cash assets occurred following the use of convertible bonds due in 2029.
As of May 31, Strategy held 843,706 Bitcoins. The company moved these assets at an average cost of $75,699 per coin. Accordingly, the last sale was made at a level above the company’s combined cost base.
What do the numbers show
The announced data indicated that the sale was quite limited within the company’s total Bitcoin position. On the other hand, the transaction was noted as a remarkable change in the solely accumulation-based approach that Strategy had followed until now.
| Pen | Data |
|---|---|
| Sold Bitcoin | 32 BTC |
| Average selling price | $77,135 |
| Total sales amount | $2.5 million |
| Total Bitcoin as of May 31 | 843,706 BTC |
| Average purchase cost | $75,699 |
| cash reserve | From 871 million dollars to 900 million dollars |
The company’s statement stood out as a limited but carefully monitored step in terms of both balance sheet management and capital distribution. In particular, the fact that the sales proceeds were directly directed to preferred share payments indicated that the transaction was made for financing purposes rather than portfolio reduction.
