Strategy (MSTR) Sells 32 Bitcoin for First Time Since 2022, Stock Drops 7%

Strategy (MSTR) disclosed in a SEC filing that it sold 32 bitcoin in May at an average price of $77,135, generating a profit of about $2.5 million, marking its first sale of the cryptocurrency since 2022. Shares of the company fell as much as 7% intraday on June 1, 2026, as the move rattled investor sentiment. The sale represents just 0.004% of Strategy's total holdings, which stand at 843,706 bitcoin. The company said the proceeds would fund preferred stock dividends and emphasized the transaction occurred near its cost basis, describing it as a manageable, small-scale cash-management exercise rather than a signal of weakening conviction in bitcoin. It represented a shift from the firm's prior "never sell" stance. Bitcoin fell 3% to around $71,350 following the disclosure. Analysts noted crypto sentiment is already near a trough, with equity-market AI momentum bypassing digital assets. The sale stoked debate: some viewed it as routine treasury management, while bears warned that any normalization of sales could undermine the company's valuation premium tied to its pure accumulation strategy.