Strategy Inc, formerly known as MicroStrategy, sold 32 bitcoins in late May 2026, generating about $2.5 million in proceeds at an average price of $77,135 per bitcoin, marking its first bitcoin sale since 2022 [1, 2]. The sale came amid a volatile market where bitcoin’s price dropped roughly 21% over 10 days, falling below $61,000 at one point and losing over $300 billion in market value within a week [3, 4].
The shares of publicly traded bitcoin treasury companies plunged approximately 14% this week, with their combined market capitalization falling from nearly $134 billion at its peak in October 2025 to about $72 billion in June 2026 [5, 6]. Strategy Inc’s stock price declined 5.9% on June 1 following the bitcoin sale, reflecting investor concerns over the company’s liquidity and bitcoin leverage strategy [7].
In mid-May, Strategy Inc announced plans to repurchase part of its convertible debt, pausing its previous continuous bitcoin accumulation strategy [3, 4]. The company stated that the bitcoin sale aimed to pay dividends on preferred stock and help manage liquidity during the ongoing market pressures [2]. Despite selling the 32 BTC, Strategy still holds over 120,000 bitcoins with a total cost of about $9.3 billion, maintaining its status as the largest publicly traded bitcoin holder [3, 4].
Market analysts warn that if Strategy is forced to sell more bitcoin due to liquidity pressures, it could trigger a "doom loop" accelerating price declines as asset sales feed further losses [3, 4]. Hayden Hughes, Managing Partner at Tokenize Capital, said, "With prices now unwinding, digital-asset treasuries are faced with a stark choice: default on their debt or sell assets. The forced selling has shattered the perception that they would monotonically act as permanent ‘buy and hold’ investors" [5].
Geopolitical risks such as rising US-Iran tensions are adding pressure on bitcoin prices alongside Strategy Inc’s rare sale, according to Orbit Markets Co-founder Caroline Mauron [8]. Bitcoin ETFs have also experienced net outflows over 11 consecutive days, withdrawing $3.5 billion and adding downward strain to the market [8, 2].
Michael Saylor, co-founder and former chairman of Strategy Inc, emphasized the company’s view on bitcoin sales: "We may sell 20 basis points of Bitcoin within a month, but buy 5 to 10 times the amount in the same month. If the market believes Strategy never sells Bitcoin, it weakens Bitcoin’s financial and credit logic" [2]. Wealth advisor Chris Keeling noted that "Most people hesitate to buy at the peak, but this hesitation is the biggest mistake that can harm personal assets" [7].
