Movement Alert｜Strategy Intraday Decline 5.46%, Company Breaks Never Sell Policy by Offloading 32 Bitcoin for $2.5 Million

Market Focus06-02 21:36

On June 2, Strategy fell 5.46% in regular trading, trading at $140.15/share with trading volume of $346 million. The stock had earlier plunged over 9% before paring losses, as the company disclosed its first bitcoin sale in 41 months.

According to an 8-K filing, Strategy sold 32 bitcoin between May 26 and May 31 at an average price of $77,135 per coin, generating approximately $2.5 million. The proceeds are earmarked for preferred stock dividend payments. This marks a historic shift from the company's long-standing never sell stance championed by Executive Chairman Michael Saylor.

The company's new strategic framework now permits bitcoin sales to boost per-share bitcoin metrics, fund shareholder dividends, or strengthen its balance sheet. As of May 31, Strategy still holds 843,706 BTC with an average cost basis of $75,699. Meanwhile, bitcoin itself fell below $72,000 amid concurrent US-Iran geopolitical tensions, further pressuring crypto-related equities. The narrowing gap between bitcoin's market price and Strategy's cost basis has intensified investor concerns about the sustainability of its leveraged bitcoin treasury model.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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Comments

  • Guavaxf3006
    06-02 23:23
    Guavaxf3006
    Selling 32 bitcoin is a very desperate act. Why dovyou need to offload such a small amount after swearing you will never need to sell off any bitcoin? I fear this organisation is running on empty. Very good chance this ponzi will collapse now.
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