Strategy sold 3,588 bitcoin for $216 million last week to fund dividend payments on its preferred stock, yet the largest cryptocurrency held above $61,000 as markets absorbed the selling.
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Strategy sells 3,588 bitcoin for $216 million as BTC shows resilience
Strategy sold 3,588 bitcoin for $216 million last week to fund dividend payments on its preferred stock, yet the largest cryptocurrency held above $61,000 as markets absorbed the selling.
Strategy sold 3,588 bitcoin for $216 million last week, the largest single disposal by the corporate treasury holder, yet bitcoin held above $61,000 as traders assessed whether the selling pressure had been priced in.
"Strategy's decision to sell at a loss to fund dividend obligations marks a significant departure from its 'never sell' doctrine," said Nina Volkov, crypto markets analyst at Edgen. "The market is now watching whether this is a one-time liquidity event or the start of a broader shift in capital allocation."
The sales occurred in two tranches — 1,363 BTC for $80.8 million between June 29 and 30, and 2,225 BTC for $135.2 million between July 1 and 5, according to an SEC filing. The company booked an $8.31 billion unrealized loss and a $0.9 million realized loss on its bitcoin holdings in the second quarter as the price fell from about $68,000 on April 1 to roughly $60,000 on June 30. Strategy now holds 843,775 bitcoin purchased at an average price of $75,476, maintaining its position as the largest publicly traded corporate holder of the cryptocurrency.
The sale highlights the pressure on Strategy to maintain its 12% dividend on STRC preferred shares, which have traded below their $100 par value. The company holds $2.55 billion in cash reserves, covering roughly 17 months of dividend payments — a level that preferred stock investors consider adequate but leaves limited room for additional large-scale bitcoin purchases. STRC rose 2.1% to near $90 on Monday, recovering from last week's low below $75, while MSTR common stock fell about 2% to $98 in premarket trading.
Bitcoin traded at $61,700 as of 14:30 UTC, down 2% over the past 24 hours, according to CoinGecko data. The asset has fallen roughly 50% from its all-time high of about $126,000 reached on Oct. 6, 2025. Key support sits at $58,000, the low touched last week, with resistance at $64,000, a level bitcoin briefly tested over the July 4 weekend before reversing.
The broader macro backdrop remains mixed for risk assets. A weaker-than-expected U.S. jobs report on Thursday gave liquidity-sensitive assets a lift heading into the weekend, but capital continues to rotate toward AI and semiconductor stocks, with SK Hynix set for one of the largest IPOs of 2026 on the Nasdaq this week. The July 14 CPI release is the next data point that could either extend the relief or further cap any early-July rally in bitcoin.
This article is for informational purposes only and does not constitute investment advice.
[1] Bitcoin Price Rallies Despite Strategy Selling 3,588 BTC—Was the Event Already Priced In?[2] One month that shook the market: Saylor's struggles over bitcoin strategy yields big losses - CoinDesk[3] Live updates: Bitcoin slips after Strategy sells 3,588 BTC for $216 million - CoinDesk[4] Breaking: Michael Saylor’s Strategy Sells 3,588 Bitcoin To Fund STRC Dividends[5] Saylor's Strategy sold 3,588 Bitcoin worth $216 million as it moved to bolster liquidity and fund dividends.
