Strategy sells Bitcoin for first time since 2022 to fund preferred stock dividends

Strategy on Monday disclosed that it sold 32 Bitcoin for approximately $2.5 million between May 26 and May 31, its first operational sale to fund corporate liquidity obligations since its purely tax-motivated disposal of 704 Bitcoin back in December 2022.

The proceeds are expected to support preferred stock distributions, according to the company. Following the sale, Strategy currently holds 843,706 Bitcoin, valued at $60.8 billion at current market prices.

Separately, the company raised about $128 million through the sale of 801,994 shares of its Class A common stock under its at-the-market (ATM) program during the period, while making no sales under its preferred stock ATM facilities.

Strategy also disclosed a $900 million USD reserve, reaffirmed the 11.50% annual dividend rate on its STRC preferred shares, and declared cash dividends for all of its preferred stock series.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.