Michael Saylor's Company Sells 3,588 Bitcoin for $216 Million
On July 6, 2026, CoinDesk reports that Michael Saylor's Strategy sold 3,588 bitcoin, totaling about $216 million, to strengthen its dollar reserves for preferred stock dividends. The sale reduces the company's total bitcoin holdings to 843,775 BTC.
Michael Saylor's company, Strategy (MSTR), sold 3,588 bitcoin last week, generating approximately $216 million. This sale reduces its bitcoin holdings to 843,775 BTC, as reported in a recent filing with the Securities and Exchange Commission (SEC).
The proceeds will be used to replenish the company's U.S. dollar reserves, which were at $2.55 billion as of July 5, 2026. The average sale price for the bitcoin was around $60,000 each, marking a significant increase from the previous month's sale when only 32 bitcoin were sold.
According to Strategy's report, "This capital will help fund distributions on our preferred stock and restore reserves utilized for those payments." Currently, Strategy's total bitcoin acquisition cost is approximately $63.69 billion, averaging $75,476 per bitcoin. Despite these developments, MSTR shares have seen a 2% decrease in pre-market trading.
This latest transaction contrasts sharply with the company's prior actions, notably its minimal bitcoin sales just a month ago, which led to price declines in the crypto market. Saylor's approach to managing bitcoin assets continues to draw scrutiny as the crypto landscape remains volatile. As of the latest, bitcoin has traded down to $61,900 from over $62,900 prior to the announcement.
Going forward, observers may want to monitor how these strategic sales impact both the company's financial health and the broader market sentiment toward bitcoin, especially considering the substantial reserves still available for future transactions under its recently approved BTC Monetization Program.
Summary based on original reporting by James Van Straten at CoinDesk, originally published Jul 6, 2026. SolanaWire does not republish source content.
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