MicroStrategy sold 1,638 Bitcoin, raising approximately $105 million in what ranks as its second-largest Bitcoin sale this year. Half the proceeds went toward preferred dividend payments, and the other half funded an $81 million repurchase of STRC preferred stock. The company's dollar reserve now stands at $4 billion following the transaction.
MicroStrategy has been the most visible corporate buyer of Bitcoin, so any selling from its treasury sends a signal to the market about demand from that segment. The sale also reveals that preferred dividend obligations are now large enough to require liquidating core holdings, which suggests the capital structure is under more pressure than the headline reserve number implies. Bitcoin holders and MSTR shareholders should both watch whether this becomes a recurring pattern.
MicroStrategy Q2 earnings report, expected late July. Next FOMC rate decision: July 29-30. Monthly MicroStrategy Bitcoin holding disclosure, typically early in each month.
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