MicroStrategy buys 1,550 Bitcoin after first sale since 2022

MicroStrategy announced on Monday that it purchased 1,550 Bitcoin for roughly $101 million, lifting its treasury to 845,256 BTC and boosting its cash reserve to $1 billion after its first Bitcoin sale since 2022 [1].

Purchase details and financing

The company bought the Bitcoin between June 1 and June 7 at an average price $11,800 below the $77,135 average it received for the 32 BTC it sold on May 26‑31 [1]. The sale, which covered preferred‑share dividends, represented only 0.0038% of its holdings, underscoring that the move was a liquidity maneuver rather than a strategic shift. Funding for the new purchase came mainly from at‑the‑market equity sales, with about 1.41 million shares sold for roughly $181 million [1].

Market reaction and broader context

Bitcoin was trading near $63,148, up 1.34% over 24 hours, still well below MicroStrategy’s blended cost basis of $75,680 per BTC, leaving the treasury in a paper loss [1]. Despite the loss, the firm remains the largest corporate Bitcoin holder by a wide margin. The announcement coincided with a modest dip in MSTR shares, which fell about 3% in after‑hours trading following the earnings release that highlighted a shift toward active balance‑sheet management of Bitcoin holdings [2].

Dividend schedule and future outlook

Shareholders voted to move to semi‑monthly dividend payments, with the first payment under the new schedule potentially arriving on July 15 [1]. CEO Michael Saylor and co‑CEO Phong Le reiterated that the company’s “corporate strategy is to increase net Bitcoin and Bitcoin per share over time,” dismissing rumors of a larger sell‑off [1].

What to watch

• Bitcoin price relative to MicroStrategy’s blended cost basis ($75,680) – a break above could reduce the paper loss on the treasury.
• The July 15 semi‑monthly dividend payout – its size will signal cash flow health after the recent equity raise.
• Any further equity sales or Bitcoin disposals announced in upcoming earnings calls, which could indicate a deeper shift in the “never sell” stance.

The purchase shows MicroStrategy’s commitment to grow its Bitcoin reserve despite a falling market, while the cash reserve and dividend schedule suggest a focus on liquidity and shareholder returns. Whether the firm will begin selling Bitcoin to manage debt or fund buybacks remains an open question as it balances a large on‑chain asset against market volatility.