Strategy sells Bitcoin for dividends, trims to 843,775 BTC

Published: 2026-07-06 13:07:06 |

Strategy sells Bitcoin for dividends, selling 3,588 BTC to raise about $216M. The proceeds are earmarked for preferred-stock dividend payments and to replenish cash reserves. In a new SEC 8-K disclosure, Strategy said the sales reduce total Bitcoin holdings to 843,775 BTC while keeping $2.55B in USD cash reserves intact. The execution details show 1,363 BTC sold at an average ~$59,256 (last Monday–Tuesday), and 2,225 BTC sold at an average ~$60,773 (Wednesday–Sunday). Earlier in June, Strategy reported a much smaller sale of 32 BTC (its first disclosed sale since a 2022 tax-loss transaction). Funding remains tied to its preferred stock (STRC). STRC traded around $88.70 pre-market versus $100 intended par value, implying a discount that may constrain fresh STRC issuance. Analyst Bernstein said forced selling is unlikely, citing liquidity and an estimated ~17 months of cash coverage for dividends and interest. Bernstein also reiterated Strategy is a net buyer of Bitcoin and could act as a “balancing force” amid US miner selling and 2026 YTD Bitcoin ETF outflows totaling about $5.5B, with debt estimated near 13% of Bitcoin collateral value. Bernstein kept a $150,000 year-end BTC price target despite the Strategy sells Bitcoin for dividends execution.

Neutral

Short term, Strategy sells Bitcoin for dividends (3,588 BTC) and any headline about treasury selling can create incremental selling pressure and sentiment drag—especially if traders fear the “flywheel” is weakening. However, the sales are explicitly framed as planned treasury management and the company kept a large $2.55B USD cash buffer while retaining 843,775 BTC. Bernstein’s view adds a key mitigating factor: liquidity and ~17 months of cash coverage suggest this is unlikely to turn into forced additional selling. Longer term, Strategy’s role as a net buyer could partially offset US miner selling and large ETF outflows, which helps cap downside volatility on BTC. Overall, price impact on BTC itself looks more like a temporary narrative/flow read-through than a structural bearish break.