Strategy sells 3,588 bitcoin for $216M to fund dividends

Bitcoin slipped on Monday after Strategy ↗ 0.00% disclosed that it sold 3,588 BTC for approximately $216 million between June 29 and July 5, marking a dramatic escalation in the company's willingness to liquidate its cryptocurrency holdings to meet financial obligations.

The sale, revealed in a Form 8-K filing on July 6, was executed in two tranches: 1,363 bitcoin sold between June 29 and June 30 at an average price of $59,256, followed by 2,225 bitcoin between July 1 and July 5 at an average price of $60,773. The proceeds will fund preferred stock dividend payments and replenish Strategy's U.S. dollar reserve.thestreet+2

A New Era for the Biggest Corporate Bitcoin Holder

The transaction represents a sharp departure from founder Michael Saylor's long-standing "never sell" philosophy. Strategy formally launched its Bitcoin Monetization Program on June 29, authorizing the sale of up to approximately 20,800 BTC — roughly 2.5% of its total holdings — to cover up to $1.25 billion in preferred stock dividends and interest payments.kucoin+1

Despite the latest sale, Strategy still holds 843,775 BTC acquired at an average purchase price of $75,476. The company also reported an $8.32 billion unrealized loss on digital assets for the quarter ended June 30.finance.yahoo+1

Broader Market Under Sustained Pressure

The sale added to an already fragile market backdrop. Bitcoin closed Q2 2026 with a 14.1% loss, its third consecutive quarterly decline. The cryptocurrency has fallen more than 50% from its October 2025 all-time high near $126,000 and recently dipped below $58,000, hitting a 21-month low.mexc+2

According to CoinDesk, bitcoin touched $63,882 overnight before retreating to around $62,900 on Monday, with sellers pushing prices lower after the Strategy filing became public. The next major catalyst for direction is the July 14 CPI release, which could either extend the tentative relief rally or cap any early-July recovery.coindesk

Strategy's initial sale of just 32 BTC in late May had already rattled markets, contributing to a slide from nearly $74,000 to below $58,000 over the following weeks. The latest sale — more than 100 times larger — underscores the company's growing reliance on bitcoin liquidation to service its expanding web of preferred stock obligations.coindesk