MSTR liquidated 32 BTC, breaking its long-standing hold-only policy as Bitcoin trades below its average purchase price of $75,699.
MicroStrategy sold 32 Bitcoin at $77,135 per coin to meet preferred stock obligations, marking its first-ever Bitcoin liquidation. The move violates its “never sell” strategy, raising concerns about balance sheet pressure as BTC trades near $67,338, below its $75,699 average cost.
The company holds 843,076 Bitcoin, but declining prices could force further sales, creating a potential negative feedback loop. MicroStrategy had positioned itself as a leveraged Bitcoin proxy, with its stock closely tied to cryptocurrency performance.
The sale, disclosed in a June 1 SEC filing, is small relative to total holdings but symbolically significant. Investors had long assumed the company would hold indefinitely, making the shift a notable departure from its core thesis.