Key Points
- Strategy sold 32 Bitcoin to signal flexibility, test processes, and harvest tax losses.
- The sale represents less than 0.004% of its 818,334 BTC holdings.
Strategy CEO Phong Le stated on CNBC’s Power Lunch on June 10, 2026, that the company sold 32 Bitcoin (BTC) between May 26 and May 31, marking its first sale since 2022.
The transaction was executed at an average price of about $77,135 per coin, generating approximately $2.5 million in gross proceeds.
The company currently holds 818,334 BTC with a total cost basis of roughly $61.81 billion.
Three Reasons Behind the Sale
Le explained that the first reason for the sale was market signaling.
He said the company wanted investors to understand it is willing to sell Bitcoin when appropriate, reducing the likelihood that future sales would surprise the market.
The second reason involved operational readiness.
According to Le, selling BTC is more complex than buying it, and the company aimed to test its execution, custody, and settlement processes to ensure full functionality if larger transactions are ever required.
The third rationale was tax-loss harvesting.
Le referenced a December 2022 transaction in which the company sold 704 BTC to realize capital losses before rebuilding a comparable position, improving tax efficiency without reducing overall exposure.
He indicated that similar opportunities exist within the current holdings, given that acquisitions were made across a wide price range from roughly $10,000 to $125,000 per coin.
Le also stated that the company did not need to sell Bitcoin to fund dividend obligations, noting that other capital-raising avenues remain available.
Scale of Holdings and Market Reaction
The 32 BTC sale represents less than 0.004% of Strategy’s total holdings, making it minor relative to the overall treasury position.
Following the June 1 disclosure, MSTR shares declined about 25%, while Bitcoin fell roughly 15% during the same period, according to data from TradingView.
Some market participants interpreted the sale as a shift away from a strict accumulation strategy previously associated with company leadership.
Le emphasized that the firm’s focus remains on institutional shareholders and on managing Bitcoin per share, a metric reflecting BTC held per diluted share outstanding.
He has previously outlined that larger sales would be considered only if the company’s stock trades below modified net asset value and conventional funding sources are exhausted.
The company maintains access to financing tools, including convertible debt and preferred share structures, which reduce the need for forced asset sales.
