Strategy’s First Bitcoin Sale Yields $2.5 Million
- Strategy (MSTR) sold 32 bitcoin between May 26 and May 31 at an average price of $77,135 each.
- The total proceeds from the sale amounted to $2.5 million.
- As of May 31, Strategy held a total of 843,706 bitcoin with an average purchase price of $75,699.
- The sale price exceeded both the company’s cost basis and the market price of approximately $73,400 at the time.
This transaction marks Strategy’s first disclosed sale of bitcoin, with proceeds allocated for preferred stock distributions as noted in their filing.
By selling bitcoin at a net average price above its purchase cost, Strategy effectively capitalized on favorable market conditions during late May. The company’s remaining holdings still position it significantly within the cryptocurrency market.(Source)
