Michael Saylor's Strategy dramatically ups pace of bitcoin sales, raising $216 million
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- Strategy sold 3,588 bitcoin for approximately $216 million last week at an average price of roughly $60,000 per coin, according to a Monday SEC filing.
- Proceeds will fund distributions on Strategy's preferred stock and replenish a U.S. dollar reserve that stood at $2.55 billion as of July 5.
- Strategy dramatically scaled up its selling pace — just one month ago it offloaded only 32 bitcoin, a token sale that sent crypto prices plunging.
- Strategy's remaining 843,775 BTC were acquired at an average price of $75,476, meaning last week's sales executed roughly $15,000 below cost basis.
- MSTR shares fell 2% in pre-market trading and bitcoin slipped from $62,900 to $61,900 after the announcement.
- The full $1.25 billion capacity under Strategy's recently announced BTC Monetization Program remains untapped, and no shares were sold under its at-the-market equity program during the week.
Why it matters: Strategy liquidated 3,588 BTC at roughly $60,000 — about $15,000 below its $75,476 average purchase price — confirming the company will sell at a loss to service preferred-stock obligations. With the full $1.25 billion capacity under its BTC Monetization Program still unused, this $216 million week is a signal of selling cadence, not a one-off, and each subsequent dump lands directly on MSTR shareholders who fund the preferred dividends.
