Bitcoin's price dipped below $72,000 as Strategy executed a sale of 32 bitcoins, bringing in around $2.5 million from the transaction, according to a recent 8-K filing.
The recent filing indicates that the funds from the sale, which occurred between May 26 and May 31 at an average price of $77,135 per coin, will be used for preferred stock distributions.
By Shaurya Malwa, James Van Straten
Updated Jun 1, 2026, 12:21 p.m. Published Jun 1, 2026, 12:07 p.m.
Key Points:
- Strategy sold 32 bitcoins between May 26 and May 31, generating approximately $2.5 million at an average net price of $77,135 per coin, as stated in an 8-K filing.
- This sale marks the company's first public bitcoin disposal, with proceeds designated for preferred stock distributions.
- As of May 31, Strategy retained 843,706 bitcoins, purchased at an average price of $75,699, making the sale price above their cost basis but lower than bitcoin's Monday market price of around $73,400.
Strategy (MSTR) disclosed in its 8-K filing that it sold 32 bitcoins for a total of $2.5 million, averaging $77,135 per coin during the sale.
Data from CoinDesk shows that bitcoin briefly fell below $72,000, with over $90 million in BTC-related futures positions being liquidated shortly thereafter.
This transaction is the first time Strategy has publicly sold bitcoin, and the funds will be allocated for distributions on its preferred stock, as noted in the filing.
Furthermore, the company raised $128.3 million through its at-the-market (ATM) common stock program during the week, using a portion of the proceeds to boost its cash reserves from $871 million to $900 million. This follows the significant depletion of its cash reserves used to retire $1.5 billion in 2029 convertible notes.
As of the end of May, Strategy held 843,706 bitcoins at an average purchase price of $75,699, meaning the sale price was above its blended cost basis, even as bitcoin traded at $72,097.82, below $72,000 according to CoinDesk data.
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