Key Reasons for the Sale
Published 7/13/2026, 6:33:01 AM
Strategy (formerly MicroStrategy, ticker: MSTR) sold 3,588 BTC for approximately $216 million between June 30 and July 6, 2026. This transaction represents a shift from the company's historical "never sell" policy to a new "monetization framework" designed to support its complex capital structure and preferred stock obligations.
Key Reasons for the Sale
The sale was driven by operational requirements rather than a change in long-term conviction:
- Funding Preferred Stock Dividends: The primary driver was the need to fund cash dividend payments for Strategy's digital credit securities, specifically STRC (Stretch), STRF (Strife), and STRK (Strike).
- Replenishing USD Reserves: The company maintains a U.S. dollar reserve to service debt and dividends. As of July 5, 2026, this reserve stood at $2.55 billion, providing approximately 2.5 years of coverage for these obligations.
- New Monetization Program: On June 29, 2026, Strategy authorized a program allowing for up to $1.25 billion in systematic Bitcoin sales to support its capital structure and preferred stock reserves.
- Tax-Loss Harvesting: The sale resulted in a reported $8.3 billion loss relative to the company's cost basis, creating a capital loss that can be used to offset future tax liabilities.
Transaction Summary (June 30 – July 6, 2026)
| Date | BTC Sold | Proceeds | Avg Price per BTC |
|---|---|---|---|
| June 30, 2026 | 1,363 BTC | $81 Million | ~$59,256 |
| July 6, 2026 | 2,225 BTC | $135 Million | ~$60,773 |
| Total | 3,588 BTC | ~$216 Million | ~$60,200 |
Strategic Context and Holdings
Despite this divestment, Strategy remains the world's largest corporate holder of Bitcoin. The 3,588 BTC sold represents only 0.43% of its total treasury.
- Total BTC Held: 843,775 BTC (as of July 6, 2026).
- Aggregate Cost Basis: $63.69 billion.
- Average Cost per BTC: ~$75,482.
Executive Chairman Michael Saylor has characterized these moves as a way to "monetize the treasury" to support the company's equity instruments while maintaining a core long-term accumulation strategy.
Note on Data Availability: While the transaction totals and strategic reasons are documented in research findings, specific SEC filing URLs confirming the exact daily dividend amounts for each preferred stock ticker (STRC, STRF, STRK) were not present in the research data. [Note: not independently confirmed]