Strategy (NASDAQ: MSTR) is back to doing what it does best.
Buying Bitcoin (BTC)
The buying comes just a week after the Bitcoin treasury giant led by Michael Saylor rattled crypto markets with its first Bitcoin sale in four years. Between May 26 and May 31, Strategy sold 32 BTC for roughly $2.5 million. It was Strategy’s first Bitcoin sale since 2022, and it brought the company’s holdings down to 843,706 BTC.
The proceeds were earmarked for preferred stock dividends, and the move broke from Saylor’s long-held vow never to sell. The reaction was swift. Bitcoin declined from approximately $73,800 to below $60,000 last week.