Michael Saylor’s Strategy (MSTR) has sold 32 bitcoin for $2.5 million to fund dividend payments, following through on its recent promise to sell BTC. According to an 8-K Strategy filing on Monday, proceeds from the May 26-31 Bitcoin sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy’s preferred stock. The sale is also the company’s first disclosed net bitcoin disposal.

As of May 31, Strategy still holds 843,706 bitcoin, at an average purchase price of $75,699. BTC currently trades at $71,287 at the time of writing. The sale is Saylor’s first standalone divestment disclosed to date. In the December 2022 sale of 704 BTC, the company also bought 2,395 BTC, resulting in a net increase and making the sale primarily a tax-loss harvesting exercise.

“We want to be net aggregators of bitcoin – increasing our total bitcoin, but more importantly, increasing our bitcoin per share because we think that is what is going to be most accretive long term for MSTR,” Strategy CEO Phong Le said on the company’s earnings call in early May.

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After an explosive 2025, BTC is now down 32% in the last 365 days. Many were hopeful that Bitcoin (BTC) would change it trajectory after it reclaimed the $82,000 price level in May. Not only did things not go according to plan, but BTC seems to continue its bearish trajectory into June 2026. As a result, Strategy has begun to put some of its bitcoin holdings for sale.

The Strategy Bitcoin sale caused MSTR shares to fall more than 6% in premarket trading, and a further 5% after the opening bell. Bitcoin fell 2% on the news to its lowest level since April 13.