Strategy NASDAQ:MSTR slipped about 2% in premarket trading Monday after Michael Saylor's company disclosed that it sold 3,588 bitcoin last week for $216 million, a notable shift for one of the market's most closely watched corporate bitcoin holders.
Saylor said in a post on X that the sale was used to fund dividends on the company's Digital Credit securities. As of July 5, 2026, Strategy still held 843,775 bitcoin in its reserves, along with $2.55 billion in U.S. dollar reserves.
The company sold 1,363 bitcoin for $80.8 million between June 29 and June 30, then sold another 2,225 bitcoin for $135.2 million from July 1 through July 5. Strategy said the proceeds helped fund preferred stock distributions and replenish the portion of its dollar reserve used for those payments.
Bitcoin fell roughly $1,000 after the disclosure, dropping to around $61,900.
The sale came shortly after Strategy launched a bitcoin monetization program on June 29, allowing it to sell bitcoin from time to time to generate up to $1.25 billion for its dollar reserve. The full amount remained available as of July 5.
Strategy also reported an $8.32 billion digital asset loss for the quarter ended June 30, mostly unrealized, while carrying $49.67 billion in digital assets.