Strategy, led by Michael Saylor, sold 3,588 Bitcoins to finance dividend payments and strengthen its cash reserves. According to an 8K filing with the U.S. Securities and Exchange Commission, the company generated $216 million in proceeds from this sale. Thus, Strategy’s total Bitcoin assets decreased to 843 thousand 775 BTC.
Scope of sale and reserve status
The company sold 1,363 BTC for an average of 59 thousand 256 dollars between Monday and Tuesday last week, and 2,225 BTC for an average of 60 thousand 773 dollars between Wednesday and Sunday. Adding the 32 BTC transaction announced at the beginning of June, this step was among the rare Bitcoin sales recorded since the company’s sale for tax purposes in 2022.
In another 8K filing dated June 29, Strategy announced the capital framework that allows Bitcoin sales to be used to fund dividends. In the same notification, it was announced that the annual dividend rate of the privileged share coded STRC was increased to 12 percent and the US dollar reserve increased to 2.55 billion dollars. The last statement showed that the dollar reserve remained at this level.
Mini glossary: STRC refers to the perpetual preferred stock vehicle that Strategy uses to offer regular dividends to investors. If the price of such shares falls below the targeted nominal value, it may make it difficult for the company to raise new funds.
STRC changed hands at $88.70 in pre-market trading on Monday, according to Yahoo Finance data. This level remained 11.3 percent below the stock’s $100 target nominal value. Trading STRC below par value may limit Strategy’s ability to raise new funds through this instrument. This could put additional pressure on the dividend rate to maintain investor interest.
Strategy resorted to selling Bitcoin in order to meet dividend obligations and shore up its cash position; The last statement revealed that the dollar reserves remained at 2.55 billion dollars.
Bernstein assessment
Before Strategy’s latest sales announcement, Bernstein stated that it was unlikely that the company would face forced Bitcoin sales. The institution based this opinion on the liquidity structure of the company and the capacity of its cash reserves to cover dividends and interest payments.
Strategy’s cash position provides approximately 17 months of protection for dividend obligations and interest payments, according to Bernstein. The institution also emphasized that the company maintains its position as a net buyer of Bitcoin and plays a stabilizing role in a market where large US Bitcoin miners are on the sell side as they turn to artificial intelligence investments.
In the same evaluation, it was noted that there was an outflow of $ 5.5 billion from Bitcoin spot ETFs throughout 2026. Bernstein noted that Strategy’s accumulation policy constitutes an important counterweight in the market.
| Title | Data |
|---|---|
| Sold Bitcoin | 3,588 BTC |
| sales revenue | $216 million |
| Total Bitcoin assets | 843,775 BTC |
| dollar reserve | $2.55 billion |
| STRC dividend rate | 12 percent |
Bernstein calculated that Strategy’s debt obligations account for only 13 percent of the Bitcoin collateral value. The company’s next principal payment of approximately $1 billion will be due in the third quarter of 2028. The institution also states that it remains optimistic about the long-term outlook while maintaining its $150 thousand Bitcoin price target for the end of the year.
Bernstein emphasizes that Strategy does not appear to be under forced selling pressure due to its liquidity situation and reserve structure, and that the company continues to be a net buyer in the Bitcoin market.
