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Strategy Tests Sell Process With 32‑BTC Disposal and Reaffirms Net‑Buyer Role

Company says the tiny sale was a systems test that signals a move to active treasury management using selective disposals, equity issuance and targeted purchases to meet funding needs.

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Overview

  • The company sold 32 BTC between May 26 and May 31 for roughly $2.5 million, a disposal equal to about 0.004% of its reported holdings.
  • CEO Phong Le told CNBC the trade was a deliberate process validation and a market 'inoculation' to ensure sell‑side systems and procedures work end to end.
  • Strategy sold stock through an at‑the‑market program in early June, raising about $181 million and using part of the proceeds to buy roughly 1,550 BTC between June 1 and June 7.
  • A June 8 SEC filing showed total holdings of about 845,256 BTC and a U.S. dollar reserve near $1 billion, with the company saying proceeds from the small sale were expected to help cover preferred stock dividends.
  • The disclosure triggered short‑term price moves and retail backlash, Michael Saylor clarified his 'never sell' advice applied to individuals not the corporate treasury, and investors are watching the June 30 preferred‑dividend payment for how the firm will fund recurring obligations.