The sale of 32 BTC by the firm signals a shift in strategy amid pressure to fund dividend payments on its preferred stock.
MicroStrategy sold 32 Bitcoin for $2.5 million this week, marking its first BTC sale in four years. The move follows pressure to cover dividends on its 11.5% yielding preferred stock, $STRC.
The firm holds over 840,000 Bitcoin but has historically avoided sales, with its last disposal occurring in 2022 at $18,000 per BTC. Executive Chairman Michael Saylor has long advocated holding Bitcoin as a long-term treasury asset.
Bitcoin fell below $72,000 on the news, while MSTR shares dropped 5% in premarket trading to $151.30, extending a 60% decline over the past year.