Strategy Inc. (NASDAQ:MSTR) sold 32 Bitcoin (CRYPTO: BTC) for roughly $2.5 million between May 26 and May 31 to fund preferred stock dividend payments.

Holdings Drop To 843,706 BTC With $2.9B Paper Loss

The 32 coins were sold at an average price of $77,135 each, reducing total holdings to 843,706 Bitcoin worth around $61 billion. 

Strategy’s average purchase price sits at $75,699 per coin, putting total acquisition cost at roughly $63.9 billion and leaving an implied paper loss of approximately $2.9 billion at current prices.

The sale came the same week Strategy sold 801,994 MSTR shares for $128.3 million under its at-the-market program, though none of those proceeds went toward Bitcoin purchases during the period. 

The company still has approximately $26.1 billion remaining under its ATM program, recently extended to include an additional $21 billion of MSTR, $21 billion of STRC preferred stock, and $2.1 billion of STRK preferred stock.

STRC Dividend Rate Stays At 11.5% For June

Strategy confirmed Sunday that STRC’s annualized dividend rate holds at 11.5% for June, maintaining the rate that has driven most of its recent Bitcoin accumulation. 

No STRC shares were sold last week. The company also proposed shifting STRC dividend payments from monthly to twice monthly, saying the change would reduce reinvestment lag and improve price stability around the $100 par value.

Last week Strategy completed its $1.5 billion convertible note repurchase at an 8% discount, leaving $871 million in cash reserves. 

Meanwhile, Michael Saylor updated the company's Bitcoin acquisition tracker with the message "Working better" after pausing purchases the previous week, signaling that the company is preparing to resume accumulation.

Strategy noted it has purchased 2.6 times the amount of Bitcoin mined in 2026 so far.

Schiff Says Bitcoin’s Biggest Buyer Became A Seller

Peter Schiff fired back on X, pointing out that Bitcoin is already trading 7% below where Strategy sold.

“Since Bitcoin’s biggest buyer has now become a seller, where will the new demand come from to sustain the pyramid?” Schiff wrote, noting Bitcoin had already dropped below $72,000 following the disclosure.

MSTR Tests Critical Support At $148 As Chart Weakens

MSTR fell 6% and tests a support cluster between $148 and $152 where the rising trendline and lower Bollinger Band converge. 

The stock sits 12.7% below its 20-day SMA at $173.58 and is down 57.26% over 12 months.

A break below $148 opens selling toward $135, while reclaiming $174 would improve the near-term outlook. 

RSI at 45.43 sits in neutral territory, suggesting neither buyers nor sellers have clear control at current levels.

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