Company’s Strategy Sells Bitcoin for First Time in 2022
June 1, 2026
Strategy has made a significant announcement by selling bitcoin for the first time since December 2022. The company sold 32 BTC for $2.5 million between May 26 and May 31, causing a ripple effect in the market. Following the news, shares of MSTR dropped over 5% in premarket trading, while bitcoin’s value dipped below $72,000, experiencing a 2.5% decrease in a 24-hour period.
The filings with the Securities and Exchange Commission revealed that Strategy intends to use the proceeds from the bitcoin sale to cover preferred stock dividends. Additionally, the company divulged that it has also offloaded 801,994 shares of MSTR common stock for approximately $128.3 million. As of now, Strategy’s total bitcoin holdings amount to roughly 843,706 BTC, which were acquired at an average cost of around $75,699 per coin.
Despite the sudden sale, the move did not catch the market completely off guard. Michael Saylor hinted at the possibility of divesting some holdings during Strategy’s Q1 earnings call. In a subsequent interview, he emphasized the necessity of selling a portion of the bitcoin stack to maximize bitcoin-per-share over the next seven years. CEO Phong Le assured that any sale would be conducted at cost basis to minimize potential tax implications.
Speculation surrounding Strategy’s intentions intensified last week when the company transferred $30 million in bitcoin to Coinbase Prime. This move further fueled discussions about a potential sale. Notably, Strategy’s previous bitcoin sale occurred in December 2022, involving the offloading of 704 BTC for about $11.8 million, a decision that Saylor attributed to tax benefits.
In response to the recent developments, Mizuho revised its price target on MSTR from $320 to $265 while maintaining an Outperform rating. The firm also adjusted its year-end 2027 bitcoin price forecast to $94,000, down from an earlier projection of $128,000, citing a more conservative market outlook. These changes reflect a cautious stance on both MSTR and the cryptocurrency market as a whole.
