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, disclosed in a Monday SEC filing.
- The bitcoin sale was executed at an average price of roughly $60,000 per BTC—about $15,000 below Strategy's stated average purchase price of $75,476 per coin across its 843,775 BTC holdings.
- Strategy said proceeds will fund distributions on its preferred stock and replenish its USD reserve, which stood at $2.55 billion as of July 5.
- The sale volume is dramatically larger than the 32 bitcoin Strategy sold about one month ago, a move that had sent crypto prices plunging.
- Strategy did not sell shares under its at-the-market equity program or repurchase shares during the week, and the full $1.25 billion capacity under its newly announced BTC Monetization Program remains available.
- MSTR shares were down 2% in pre-market trading, and bitcoin gave up much of its weekend gain, falling to $61,900 from $62,900 before the announcement.
Why it matters: Strategy is liquidating BTC at roughly $60,000 per coin—well below its $75,476 average cost—to service preferred-stock obligations, marking a concrete break from its buy-and-hold posture. The unused $1.25 billion monetization capacity signals more forced selling could follow, while the 2% pre-market drop in MSTR shows the market is not rewarding the pivot.
