Strategy Sold 32 Bitcoin for $2.5M in Late May, Filing Shows
In brief
- Strategy sold 32 bitcoin at $77,135 per coin, generating $2.5 million in proceeds.
- Sale price exceeded the company's blended cost basis of $75,699 per coin.
- Proceeds fund distributions on Strategy's preferred stock.
First Disclosed Sale
Strategy sold 32 bitcoin between May 26 and May 31 at an average net price of $77,135 per coin, totaling $2.5 million. The disposal marks the company's first publicly disclosed bitcoin sale since it began accumulating the asset. The company disclosed the transaction in an 8-K filing on Monday, with the proceeds designated for distributions on its preferred stock.
The sale price of $77,135 per coin sits above Strategy's blended cost basis of $75,699, meaning the company realized a gain on the transaction. As of May 31, Strategy held 843,706 bitcoin at that same average purchase price.
Market Context
Bitcoin was trading at roughly $73,400 on Monday according to CoinDesk data, meaning the May sale prices reflected market conditions from the prior week. The timing underscores Strategy's selective approach to liquidation — selling into strength while maintaining a massive reserve position.
