MicroStrategy Sells 1,638 BTC, Cuts Holdings to 842,138

MicroStrategy Inc. sold 1,638 bitcoin for $104.7 million, the company disclosed in an 8-K filed Monday. The sale reduced its holdings to 842,138 coins and the bitcoin averaged $63,957 each, below MicroStrategy’s $75,419 per‑coin cost basis.

The filing shows the sale occurred last week and cut the stash from 843,775 BTC. The company also sold about $291 million of its MSTR shares in the same round of transactions. MicroStrategy has not purchased bitcoin since June 22, its longest pause on record.

The 8-K details the use of proceeds. It shows $52.4 million funded dividends on STRC preferred stock and $52.3 million was applied to an $81 million repurchase of STRC preferred shares, the second repurchase in two weeks under a previously announced $1 billion buyback program. The remainder was added to cash reserves, which the company reports at roughly $4 billion, equal to about 2.3 years of runway by its calculation.

STRC preferred shares have traded below their $100 par value since mid‑May, the company noted in regulatory filings. The 8-K links the sales of bitcoin and MSTR shares to funding obligations and the preferred‑stock repurchase program.

Founder and executive chairman Michael Saylor wrote on social media: ‘When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet.’ The company has disclosed since 2020 that it may buy or sell bitcoin to manage capital.

Market developments last week included a high‑value hardware wallet hack. Despite those events and MicroStrategy’s sales, bitcoin’s price was relatively stable over the week.

MicroStrategy has been one of the largest corporate holders of bitcoin since 2020. The company continues to manage its balance sheet with share repurchases and preferred stock actions while reporting cash and liquidity targets.