MicroStrategy: Bitcoin plan unchanged after 32 BTC sale

MicroStrategy sold 32 bitcoin on June 7 for about $2.5 million to cover dividend obligations tied to its preferred securities, the company disclosed. The disclosure said the proceeds would help fund preferred-stock dividends and that MicroStrategy maintains a $900 million reserve for preferred dividends and debt-related payments. The firm continues to pay an 11.50% annual dividend rate on its STRC preferred shares.

CEO Phong Le posted on X that the company’s “corporate strategy is to increase net bitcoin and bitcoin per share over time. Rumors otherwise are just rumors.” Executive Chairman Michael Saylor posted a chart of the company’s bitcoin holdings on X and wrote, “A good time to add more dots.”

The 32 BTC sale is MicroStrategy’s first bitcoin sale since 2022 and represents a very small portion of its holdings. Company figures cited in the disclosure put total bitcoin inventory at 843,706 BTC, making the 32-coin transaction a fraction of the portfolio.

Some market participants questioned whether the sale indicated a change in MicroStrategy’s accumulation policy. On-chain analysts reviewing exchange flows reported limited exchange activity tied to the transaction and no clear sign of broad distribution pressure.

Saylor characterized recent bitcoin price weakness as short-term capital rotation into artificial intelligence investments and posted, “This is a capital rotation, not a bitcoin impairment. Volatility creates opportunity.”

MicroStrategy described the sale as a financing measure to meet dividend obligations and reaffirmed a long-term objective of increasing net bitcoin holdings and bitcoin per share.