Overview
- The company disclosed on Monday that it sold 3,588 BTC for roughly $216 million between June 29 and July 5 to pay preferred‑stock dividends, with 2,225 BTC sold in early July at an average of about $60,773 per coin versus an aggregate purchase price near $75,476.
- Strategy’s board announced a Digital Credit Capital Framework on June 29 that authorizes up to $1.25 billion of Bitcoin sales to build a dollar reserve, and the company says the full monetization capacity remained unused as of July 5.
- VanEck noted that roughly $135 million of the recent sales were classified as direct dividend payments and therefore counted outside the $1.25 billion reserve cap, which suggests Strategy may have more practical selling flexibility than the headline limit implies.
- After the disclosed sales Strategy reported about 843,775 BTC and $2.55 billion in dollar reserves and recorded an $8.32 billion loss on digital assets for the quarter, driven mainly by unrealized losses.
- Market and analyst reaction is mixed: Michael Saylor argues a 3.3% annual BTC gain could indefinitely fund STRC dividends, Grayscale and some strategists see the plan as stabilizing, and others warn that recurring cash-duty sales and realized losses can hurt common shareholders and pressure financing options.