Markets
The Lowdown: Because You Clearly Need More Bitcoin Drama
- Strategy sold 32 bitcoin for a whopping $2.5 million. What a bargain! The proceeds are expected to fund distributions on its STRC preferred stock, because who doesn’t love a good dividend?
- Michael Saylor, the Executive Chairman, has spoken! “Our goal is to make STRC the best credit instrument in the world,” he said, probably while juggling chainsaws and riding a unicorn.
- The sale has sparked comparisons to the company’s December 2022 bitcoin sale near the market bottom. Coincidence? Maybe. Genius? Possibly. Or maybe they just got lucky… again.
Disclosure: The author of this story owns shares in Strategy (MSTR). No, they didn’t sell them to fund a lavish lifestyle… yet.
Michael Saylor, the illustrious Executive Chairman of Strategy, has finally broken his silence after the company sold a measly 32 bitcoin for $2.5 million. Because, apparently, one needs to sell bitcoin to fund dividend payments on preferred stock. Who knew?
“Our goal is to make STRC the best credit instrument in the world,” Saylor proclaimed on X, probably while contemplating the meaning of life.
This grand announcement followed the company’s revelation that it sold the aforementioned bitcoin for a sum that’s roughly the price of a decent used car. The proceeds, you guessed it, will be used to fund distributions on preferred stock. Yay, more dividends!
While the filing directly linked the sale to the dividend payment, Saylor’s decision to highlight the equity rather than the bitcoin sale is likely to reinforce investor perceptions that the company is increasingly focused on building its preferred stock. Or, you know, maybe they just really love preferred stock.
Saylor has repeatedly argued that Strategy evaluates financing and capital allocation decisions through the lens of bitcoin per share. Because, clearly, that’s the only metric that matters.
The MSTR Bitcoin Sales Strategy: Buy High, Sell Low (or So the Jokes Go)
A popular meme among crypto enthusiasts on X is that Strategy always buys bitcoin at the weekly high. Because, why not? It’s not like they’re trying to time the market or anything.
The company’s only previous bitcoin sale took place in December 2022, when the largest cryptocurrency was priced at roughly $18,000. Conveniently, this was just weeks after the collapse of crypto exchange FTX pushed prices to a cycle low near $15,000. Coincidence? We’ll let you decide.
This time, they sold at an average price of $77,135, with bitcoin now trading around $70,000 after falling as low as $60,000 in February. The million-dollar question (or rather, the $2.5 million question) is whether they’ve again sold near a market bottom. Only time (and the crypto gods) will tell.
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2026-06-01 19:16