Key facts
- MicroStrategy sold 3,588 BTC on July 6, 2026.
- The company reported an $8.32 billion loss on its Bitcoin holdings for the second quarter.
- A sale of 32 BTC in late May caused Bitcoin's price to fall from nearly $74,000 to below $58,000.
- MicroStrategy purchased 3,657 BTC at higher prices shortly before the recent sale.
- The company holds 843,775 BTC with an average purchase price of $75,476.
MicroStrategy's aggressive Bitcoin strategy has come under intense scrutiny following significant market losses and a series of complex trades. The company announced on July 6, 2026, the sale of 3,588 Bitcoin, a move that occurred just days after it had purchased 3,657 Bitcoin at considerably higher prices. This sequence of transactions has led to questions about the company's financial footing and its approach to managing its substantial cryptocurrency holdings.
The company reported a substantial $8.32 billion loss on its Bitcoin holdings in the second quarter. This loss reflects the sharp decline in Bitcoin's price, which fell from a peak of nearly $74,000 in late May to below $58,000 last week. A brief rebound to around $64,000 over the July 4 weekend was curtailed by the recent large sale.
In the period between these major transactions, MicroStrategy acquired 3,657 Bitcoin at significantly higher prices. According to analyst KALEO on X, these machinations resulted in a net increase of only 69 Bitcoin, despite the deployment of approximately $20 million in additional capital. The implied average cost for these new holdings exceeded $289,000 per Bitcoin, as the company sold coins below its recent purchase prices.
These strategic maneuvers appear to be aimed at protecting the dividends on MicroStrategy's high-yielding preferred stock, STRC, which recently increased to 12%. While both Bitcoin and MicroStrategy's common stock (MSTR) saw declines on Monday, STRC continued its rebound, nearing $90. MicroStrategy currently holds 843,775 Bitcoin, acquired at an average price of $75,476, solidifying its position as the largest publicly traded corporate holder of the cryptocurrency.
Looking ahead, MicroStrategy's cash reserves provide over 17 months of dividend coverage, suggesting that large-scale Bitcoin purchases are unlikely in the near future. While further sales may occur, they are expected to be limited in size. The absence of buying pressure from MicroStrategy could impact Bitcoin's market dynamics, but it might also alleviate selling pressure.