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Strategy (MSTR) sold 3,588 BTC for $216 million to fund preferred‑stock dividends, cutting holdings to 843,775 BTC and pushing the stock 2% lower in pre‑market
Strategy sold 3,588 Bitcoin for roughly $216 million last week, a ten‑fold increase over its May disposal, and used the cash to replenish its $2.55 billion dollar reserve and pay quarterly dividends on its preferred securities [1].
| At a glance | |
|---|---|
| Bitcoin sold | 3,588 BTC |
| Sale proceeds | $216 million |
| Remaining BTC holdings | 843,775 BTC |
| Stock move | -2 % pre‑market |
The disposal was executed at an average price of about $60,000 per coin, well below Strategy’s historic cost basis of roughly $75,500 per BTC (acquired for $63.69 billion total) [1]. The company said the proceeds will fund distributions on its five preferred instruments (STRF, STRE, STRK, STRD, STRC) and top up the portion of its U.S. dollar reserve used for those payments [1][2]. With a dividend load estimated at $1.5 billion annually, cash needs have outpaced the cash generated by Strategy’s software business, forcing the firm to tap its Bitcoin treasury [2].
The sale follows a May transaction of 32 BTC for about $2.5 million, the first disposal since 2022, and comes after a period of aggressive accumulation—including a $2 billion purchase in May and a $2.54 billion purchase in April [2]. The contrast highlights Strategy’s “dual‑track” approach: raising capital through equity and debt offerings while using Bitcoin as a back‑stop when cash reserves tighten.
MSTR shares opened 2 % lower in pre‑market trading, and Bitcoin slipped to $61,900 from $62,900, erasing most of its weekend gain [1]. No shares were sold under the company’s at‑the‑market program during the week, and no buybacks were executed, leaving the full $1.25 billion capacity of the recently announced BTC Monetization Program untouched [1].
The July sale underscores how Strategy’s dividend obligations now directly shape its Bitcoin treasury, turning the cryptocurrency from a long‑term store of value into a short‑term liquidity source whenever cash reserves tighten. Whether the firm will resume buying or continue selling will hinge on market access for its preferred securities and the trajectory of Bitcoin’s price.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 15, 2026 · How we report
MicroStrategy owns 843,775 Bitcoins with an average purchase price of $75,476 per coin, totaling about $63 billion in acquisition cost.
Proceeds from the share sale were used to increase MicroStrategy’s USD reserve to $3 billion, supporting preferred‑stock dividend payments and interest on its debt.
Key risks include Bitcoin price volatility (beta 3.55), $8.17 billion of long‑term debt, and the possibility of preferred‑stock delisting from the MSCI index.
The 24/7 Wall St. target is $358.56, implying a 268% upside, while the broader analyst consensus target is $321.
Bitcoin price movements directly impact the company’s balance sheet and stock performance; a sustained Bitcoin bull market could support upside, whereas a decline may force coin sales to meet cash obligations.