Strategy, the largest corporate holder of Bitcoin, sold 3,588 BTC over the past week for around $216 million. The company disclosed the transaction Monday. Proceeds funded dividends on its preferred shares and topped up its U.S. dollar reserve, which stood at $2.55 billion as of July 5.
The sale was part of a BTC Monetization Program the firm unveiled on June 29, which allows it to raise up to $1.25 billion by selling Bitcoin. As of July 5, that program remained fully available, meaning the company had not drawn it down beyond this initial transaction, according to a report by Yahoo Finance.
Strategy's total Bitcoin holdings now stand at 843,775 BTC, carried at a cost basis of $63.7 billion, or about $75,476 per coin. With Bitcoin trading near $62,900 before U.S. markets opened Monday, the company's average purchase price remains above the current market price. Strategy booked an $8.32 billion loss on its digital assets for the second quarter, almost all of it unrealized.
Shares of Strategy fell 2% in premarket trading to $98.88. That decline put the company on track to snap a streak of five straight daily gains and added to a 26% drop in its stock price over the past month. Those losses stood in contrast with Bitcoin's 3.7% increase over the same period.
The latest sale was far larger in scale than the company's previous liquidation. That earlier transaction involved just 32 Bitcoin sold for $2.5 million, which triggered the company's worst weekly performance since 2022 and raised questions about whether market participants could look to the firm to support Bitcoin's price.
Strategy's new capital management framework, adopted last week, includes $2 billion in stock buybacks and a raised annual rate for its Stretch preferred shares to 12%. The company said it would have enough resources to cover 26 months of dividend costs if it tapped both its cash reserves and its Bitcoin holdings.
Executive Chairman Michael Saylor has remained publicly active on the company's direction. On Sunday, he referred to Bitcoin as "Digital Energy" while sharing a chart of the company's latest purchases. The following morning, he posted on X that changes in Bitcoin's underlying code will matter less to the digital asset's future than the deepening of capital markets and an expansion of digital credit.
The BTC Monetization Program gives the company a structured way to generate cash from its Bitcoin holdings without fully abandoning its long-term accumulation strategy. Whether the program signals a lasting shift in how Strategy manages its treasury or a short-term fix tied to dividend obligations remains to be seen based on disclosures the company makes in coming weeks.
