Strategy has disclosed its first-ever Bitcoin sale. In a public filing, the company said it sold 32 BTC between May 26 and May 31 at an average net price of $77,135, generating $2.5 million that will be used for preferred share distributions.
The company, previously known as MicroStrategy, is widely recognized in the US tech sector as a software and treasury management firm with a large Bitcoin position on its balance sheet. The amount sold was tiny. Still, the filing drew attention because it marked the first publicly disclosed instance of Strategy selling any part of its Bitcoin holdings.
Sale was completed above the company’s average cost basis
As of May 31, Strategy held 843,706 BTC in total, with an average acquisition price of $75,699 per coin. That means the disclosed sale took place above the company’s composite cost basis. The filing also noted that the transaction price was higher than spot levels seen earlier that Monday.
During the same period, Bitcoin briefly fell below $72,000. CoinDesk data showed that the move triggered more than $90 million in liquidations across Bitcoin futures positions. Against that backdrop, even a small sale from a major corporate holder attracted close market attention, though the 32 BTC represented only a very small fraction of Strategy’s overall reserve.
Share sale program added liquidity and lifted cash reserves
Strategy also carried out a share sale program during the week, raising $128.3 million. Part of that liquidity was used to increase its US dollar cash reserves from $871 million to $900 million. The filing said that a large part of the earlier decline in cash holdings was tied to the use of funds related to 2029 convertible bond obligations.
The stated use of proceeds matters here. Rather than signaling a broad reduction in crypto exposure, the company said the Bitcoin sale proceeds would go directly toward preferred stock distributions. Company representatives described the move as minor in size, but one that was being watched closely from the standpoint of balance sheet management and capital allocation.
A small transaction, but a break from past practice
For years, Strategy’s public identity in crypto markets was built around accumulation and long-term holding. This filing changes that record. The transaction was limited in scale and did not alter the company’s status as one of the largest institutional Bitcoin holders, but it did show that Strategy is willing to tap its holdings in a targeted financing context.
Based on the disclosed facts, this remains an isolated sale rather than a broad portfolio shift. The company still held more than 843,000 BTC at the end of the reporting period, and the latest filing did not indicate any wider disposal plan.