Michael Saylor, chairman of Strategy (formerly MicroStrategy), executed a rare Bitcoin sale in early June 2026 — selling 32 BTC at an average price of $77,135, grossing approximately $2.5 million. The company said proceeds will fund preferred stock dividend payments. This marks his first Bitcoin sale in nearly four years, drawing market scrutiny.
Sale Represents 0.004% of Holdings, Strategy Still Holds 843,700 BTC
According to company statements, the sold amount accounts for just 0.004% of total Bitcoin reserves. Strategy continues to hold 843,700 BTC, valued at around $65 billion at current prices. Noted investment strategist Tom Lee reminded the public that Saylor had earlier signaled his intention to sell some BTC for dividends — “he still holds 99.99% of his Bitcoin assets, meaning his true gains remain tied to Bitcoin’s price.” Wall Street analysts generally agree the transaction does not materially alter Strategy’s long-term accumulation strategy.
The sale nonetheless sparked debate: does it signal a strategic shift? Since 2020, Strategy has only bought BTC through debt or equity offerings, never sold. The exception likely stems from cash needs for preferred stock dividends — the annual dividend rate is around 10%, requiring hundreds of millions in cash. Selling 32 BTC covers only a tiny fraction, making the move more symbolic than financial.
Bitcoin ETFs See 11-Day Outflow Streak Totaling $3.4B; Tom Lee Calls It a Bottom Signal
Concurrently, U.S. spot Bitcoin ETFs recorded their longest outflow streak since their January 2024 launch — 11 consecutive trading days of net withdrawals, totaling $3.4 billion. Tom Lee views this as a typical market-cycle realignment: “Investors often capitulate near the bottom, which signals the market is close to a turning point.” He stressed that Bitmine (a separate entity mentioned in the original report) sticks to its broader macro investment approach despite short-term volatility.
The outflows are driven by short-term arbitrage capital exiting and macro uncertainty. However, historical data suggests that record ETF outflows often precede Bitcoin price recoveries within 1-3 months, Lee noted, without giving a precise timeline.
Bitmine Continues ETH Accumulation, Now Holds 5.4M ETH
Tom Lee also confirmed that Bitmine’s Ether accumulation plan is on track. Last week, the company made its largest ETH purchase since December — buying 111,942 ETH valued at approximately $237 million. Following the purchase, Bitmine’s total Ether holdings reached about 5.4 million ETH, representing 4.47% of the circulating supply. Lee stated the firm is committed not only to Bitcoin but also to major layer-1 assets.
This contrasts with Saylor’s sale: one institution trims Bitcoin marginally, another aggressively adds Ether. Yet both reflect that long-term institutional appetite for digital assets remains intact.