Michael Saylor’s Strategy sells 32 bitcoin for $2.5 million as total holdings drop to 843,706 BTC
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Bitcoin treasury company Strategy sold 32 BTC for approximately $2.5 million at an average price of $77,135 per bitcoin between May 26 and May 31, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Key facts
Strategy recently extended its ATM programs to include up to an additional $21 billion of MSTR, alongside a further $21 billion of its STRC preferred stock and $2.1 billion of STRK preferred stock
Bitcoin treasury company Strategy sold 32 BTC for approximately $2.5 million at an average price of $77,135 per bitcoin between May 26 and May 31, according to an 8-K filing with the Securities
Last week, Strategy sold 801,994 MSTR shares for approximately $128.3 million, per the filing, with approximately $26.1 billion left available under the at-the-market program
Strategy now holds a total of 843,706 BTC following the reduction, worth around $61 billion, bought at an average price of $75,699 per bitcoin for a total cost of around $63.9 billion, including fees
Summary
This is the first time Strategy has sold bitcoin since December 2022, when the company offloaded 704 BTC, according to onchain analyst Ai Yi. Proceeds from the bitcoin sales are expected to be used to fund distributions on preferred stock, the firm said. Strategy now holds a total of 843,706 BTC following the reduction, worth around $61 billion, bought at an average price of $75,699 per bitcoin for a total cost of around $63.9 billion, including fees and expenses. Strategy's remaining holdings represent more than 4% of bitcoin's fixed 21 million supply cap and carry an implied paper loss of approximately $2.9 billion at current prices.