MicroStrategy sold 32 bitcoin for approximately $2.5 million last week to fund preferred stock dividend distributions, according to an 8-K filing, with Executive Chairman Michael Saylor framing the move as part of a broader strategy to strengthen the company’s credit profile.
Saylor posted on X that “Our goal is to make STRC the best credit instrument in the world,” signaling the company’s focus on the preferred stock as a financial instrument rather than on maximizing total bitcoin holdings. The sale averaged $77,135 per bitcoin, occurring while bitcoin traded around $70,000.
The transaction marks only the second bitcoin sale in MicroStrategy’s history as a major holder. The company’s previous sale occurred in December 2022 near market lows following the FTX collapse, when bitcoin was trading around $18,000. Bitcoin had fallen to $60,000 in February 2026 before recovering to current levels.
MicroStrategy is the largest publicly traded holder of bitcoin. Saylor has consistently argued the company evaluates capital decisions through the lens of bitcoin per share and shareholder value rather than through the metric of total bitcoin accumulated. The preferred stock sale proceeds directly fund distributions on STRC preferred stock, per the regulatory filing.
The sale has divided analyst opinion. Some view the transaction as a tactical move to support preferred-stock dividend obligations, while others have questioned its broader significance. The timing has also drawn comparisons to market dynamics, with some noting it echoes a “running joke” that MicroStrategy tends to buy at weekly highs, raising questions about whether the company sold near a market bottom.
MicroStrategy did not disclose its total bitcoin holdings before or after the sale, nor did the company specify whether additional sales are planned.
