MicroStrategy sold 32 BTC at $77,135 each, marking its first Bitcoin sale since December 2022 amid $STRC funding needs.
MicroStrategy sold 32 BTC for approximately $2.5 million between May 26 and May 31, its first Bitcoin sale since December 2022. The coins were sold at an average price of $77,135, with proceeds earmarked for distributions on $STRC preferred stock.
The sale follows years of CEO Michael Saylor advocating for holding Bitcoin long-term. Prior to this, the company had not sold any BTC since late 2022, accumulating over 214,000 BTC worth roughly $13.5 billion at current prices.
Markets reacted negatively, with Bitcoin falling 3.7% to $69,300 and MicroStrategy shares declining 6%. BTC briefly dipped to a near two-month low of $69,500 following the disclosure.