Strategy (MSTR), the world's largest corporate holder of Bitcoin (BTC), has sold 32 BTC worth about $2.5mn, marking its first disposal of the cryptocurrency since 2022 and a notable departure from the "never sell" narrative that helped define its identity as a Bitcoin treasury pioneer.
Strategy Breaks Bitcoin Sale Stance in First Disposal Since 2022
1 June 2026 - 16:35 CEST
By Isabelle Castro
The sales occurred between 26 and 31 May, according to a filing with the US Securities and Exchange Commission (SEC). Strategy held 843,706 BTC as of 31 May, acquired at a total cost of $63.87bn and an average purchase price of $75,699 per coin.
The 32 BTC were sold at an average price of $77,135, slightly above the company's average acquisition cost.
At 13:44UTC, Michael Saylor commented on X: "Our goal is to make $STRC the best credit instrument in the world," and included a Sharpe ratio chart of Bitcoin and various other assets, with Bitcoin the outright leader.
First sale in years
Chief executive officer Phong Lee first signalled potential selective sales during the company's latest earnings call in early May. "We will sell Bitcoin when it's advantageous to the company," Lee said. "We're not going to sit back and just say: 'We'll never sell the Bitcoin.'"
On 14 May, Strategy outlined in an SEC filing plans to repurchase around $1.5bn of convertible debt using cash reserves and proceeds from Bitcoin sales. The move was intended to address near-term debt obligations while supporting the company's long-term Bitcoin-per-share growth.
On 26 May, 411.48 BTC worth $30.3mn moved to a Coinbase Prime custody wallet – the first such transfer to an exchange in two years. Onchain data later confirmed a first sale of 32 BTC.
Market reaction
Michael Saylor, Strategy's chair and one of Bitcoin's most prominent advocates, defended the practice of selling Bitcoin to fund additional purchases during the company's first-quarter earnings call.
"If you bought land for $10,000 an acre and sold it at $100,000 an acre, and then bought more land with the profit, nobody would say that's bad for the price of real estate," Saylor said. The remarks stand in contrast to a February 2025 post on X in which Saylor wrote: "Never sell your Bitcoin."
Markets reacted swiftly to the disclosure. Strategy shares opened 5.9% lower on 1 Jun, while Bitcoin has dropped around 3% in the 24 hours to 14:15 UTC, touching as low as $71, 296.
Strategy has built the largest corporate Bitcoin treasury through consistent open-market purchases. Its approach has served as a closely watched barometer for institutional adoption of Bitcoin as a treasury asset.
(Updated with comment from Michael Saylor on X)
