# Strategy (MSTR) stock slides as company sells $216 M of Bitcoin and

**Published:** 2026-07-07T20:16:37.743Z  
**Topic:** Microstrategy Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/5a90096b-e979-4fb7-8db5-2dfaa7e73799

Strategy stock drops sharply after a $216 M Bitcoin and share sale, pushing the stock below the value of its Bitcoin holdings and ending its no‑sell stance.

Strategy (NASDAQ:MSTR) fell sharply after the company disclosed a $216 million combined sale of 32 Bitcoin and 801,994 Class A shares, sending the stock below the market value of its Bitcoin treasury and ending its long‑standing “never sell” narrative【1】. The move matters because MSTR now trades at a discount to its own Bitcoin assets, a reversal that could reshape investor expectations for the crypto‑focused firm.

| At a glance | |
|---|---|
| Bitcoin sold | 32 BTC (~$2.5 M) |
| Shares sold | 801,994 MSTR shares (~$128.3 M) |
| Stock price impact | MSTR down ~79 % from July 2025 peak |
| Bitcoin price | $71,939 (just below $72 k) |

## Sale details and market reaction  
The SEC filing revealed that Strategy off‑loaded 32 Bitcoin for roughly $2.5 million and simultaneously sold nearly 802 k Class A shares, raising $128.3 million【1】. The Bitcoin sale was the first since a 2022 tax‑loss transaction, and the share sale came without any preferred‑stock raises that week, indicating a pause in the financing model that previously funded Bitcoin purchases【1】. Bitcoin’s price slipped below $72,000, trading at $71,939, shortly after the disclosure, adding pressure on the stock’s already weakened momentum【1】.

## Valuation shift and premium erosion  
Strategy now holds about 847,000 Bitcoin, worth roughly $51 billion, while the entire market capitalization of the company is around $31 billion, meaning the stock trades below the value of its Bitcoin assets【2】. In July 2025 the stock peaked at $457, a 79 % decline to current levels, whereas Bitcoin itself is down about 51 % over the same period【2】. The premium that once valued MSTR at 3.4 times its Bitcoin holdings in late 2024 has collapsed to essentially 1 ×, erasing the leverage that amplified past gains【2】. Preferred‑share obligations now claim about 41 % of the Bitcoin, further reducing the effective value for common shareholders【2】.

## Funding pressures and future outlook  
The company’s preferred‑share dividend bill has risen to about $1.7 billion annually, a cash commitment that does not depend on Bitcoin’s price【2】. With preferred‑share issuances trading well below par (as low as $74, a 26 % discount), raising new capital by issuing more of these instruments would be costly and would dilute Bitcoin per share【2】. Consequently, Strategy’s ability to buy Bitcoin has slowed dramatically, with recent weeks showing purchases of only a few hundred coins versus the hundreds purchased in earlier periods【2】.

## What to watch  
- **Bitcoin price thresholds**: $70,000 and $75,000 levels could influence further MSTR share sales or purchases.  
- **Preferred‑share price**: Monitoring STRC trading below $80 would signal continued financing strain.  
- **Future disclosures**: Any SEC filing indicating additional Bitcoin or equity sales would test the durability of the remaining premium.

The significance of the sale lies in the shift from a “never‑sell” stance to a measured, cash‑driven disposal strategy, raising questions about how long Strategy can sustain its Bitcoin‑per‑share ratio as dividend obligations grow and market sentiment remains bearish.

## Sources
1. CoinTelegraph — [Strategy sells 32 BTC in first Bitcoin sale since 2022; Stock falls on open](https://cointelegraph.com/news/strategy-first-ever-bitcoin-sale-offloads-32-btc)
2. 24/7 Wall St. — [Strategy Is Now Worth Less Than Its Own Bitcoin: Is Saylor about to be forced to sell?](https://247wallst.com/investing/2026/06/26/strategy-is-now-worth-less-than-its-own-bitcoin-is-saylor-about-to-be-forced-to-sell/)

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Cite as: TrendWatcher, "Strategy (MSTR) stock slides as company sells $216 M of Bitcoin and", https://www.trendwatcher.in/article/5a90096b-e979-4fb7-8db5-2dfaa7e73799