The firm sold Bitcoin to fund preferred stock dividends, ending a 19-month hiatus from BTC sales after its 2022 tax-loss trade.
Strategy sold 32 BTC for approximately $2.5 million between May 26 and May 31, its first Bitcoin sale since December 2022. The proceeds will fund preferred stock dividends, according to a regulatory filing.
The company previously sold 704 BTC in late 2022 for tax-loss harvesting before repurchasing the assets days later. As of May 31, Strategy held 843,706 BTC, acquired at a total cost of $63.87 billion, with an average purchase price of $75,699 per coin.
The filing did not specify immediate market reactions to the sale.