Strategy Sells Bitcoin for First Time Since 2022 Amid Market Volatility Michael Saylor’s Strategy, the cryptocurrency-focused company he co-founded, sold 32 bitcoin coins for $2.5 million between May 26 and May 31, marking its second-ever bitcoin sale and the first since December 2022. The transaction averaged $77,135 per coin, according to a filing released on Monday. The sale coincided with a broader decline in the bitcoin price, which fell 2% to its lowest level since April 13, and a 5.85% drop in Strategy’s stock. The company also sold 801,994 shares of common stock during the same period, raising $128.3 million. The decision to sell bitcoin aligns with Strategy’s recent pivot from Saylor’s long-standing “never sell” approach to a more active management of its balance sheet. The company now considers selling bitcoin if it improves bitcoin-per-share metrics, pays dividends, or strengthens its financial position. This shift reflects a broader strategy to transform its bitcoin holdings into a credit engine, leveraging investor demand for income products to grow its holdings faster than through direct purchases. Strategy’s CEO, Phong Le, emphasized the importance of increasing bitcoin per share during an earnings call in early May. “We want to be net aggregators of bitcoin – increasing our total bitcoin, but more importantly, increasing our bitcoin per share because we think that is what is going to be most accretive long term for MSTR,” Le stated. The company’s new focus includes STRC, a yield-paying security that allows investors to earn income backed by Strategy’s bitcoin-heavy balance sheet. This product aims to turn the company’s bitcoin holdings into a credit engine, where investor demand for income-generating assets can drive growth without relying solely on buying and holding bitcoin.#bitcoin #strategy #michael_saylor #phong_le #strc
