Saylor Sells the Dip He Bought: Strategy Unloads 3,588 $BTC for $216M 🧾

Strategy, the largest publicly traded corporate holder of Bitcoin, sold 3,588 $BTC for roughly $216 million between June 29 and July 5, according to a Monday Form 8-K filing with the U.S. Securities and Exchange Commission. The sales were executed in two tranches: 1,363 $BTC at an average price of $59,256 between June 29 and June 30, and 2,225 $BTC at an average price of $60,773 between July 1 and July 5. Proceeds funded dividends on the company's preferred Digital Credit securities and topped up its U.S. dollar reserve, which stood at $2.55 billion as of July 5.

Following the transaction, Strategy's holdings fell to 843,775 $BTC, carried at a cost basis of $63.7 billion, or about $75,476 per coin. The disclosure marked the first execution of the firm's Digital Credit Capital Framework, unveiled June 29, which authorizes Bitcoin sales of up to $1.25 billion to support cash reserves, preferred dividends, interest expenses and repurchases of preferred securities and Class A common stock. On Monday, Executive Chairman Michael Saylor said on X that "Strategy has sold 3,588 $BTC for $216 million to fund dividends on our Digital Credit securities" and confirmed holdings of ₿843,775 alongside $2.55 billion in USD Reserves.

With $BTC trading near $60,000, Strategy booked an $8.32 billion unrealized loss on its digital assets for the second quarter, alongside a $0.9 million realized loss. The company also hiked the annual dividend on its Stretch (STRC) preferred stock to 12%, expanding the USD Reserve while authorizing $2 billion in stock buybacks. Strategy said it had enough resources, including potential Bitcoin sales, to cover 26 months of dividend costs.

STRC traded at $88.70 during Monday's pre-market session, 11.3% below its $100 intended par value, per Yahoo Finance data. Bernstein, in a note issued before the disclosure, said Strategy remained unlikely to face forced Bitcoin sales, citing 17 months of cash to cover dividend and interest obligations, debt liabilities equal to 13% of Bitcoin collateral value, and its next principal payment of about $1 billion due in the third quarter of 2028. Bernstein maintained its $150,000 year-end $BTC price target and called Strategy a "balancing force" against selling by U.S. Bitcoin miners and $5.5 billion of outflows from Bitcoin exchange-traded funds so far in 2026.