Strategy (MSTR) sold 32 Bitcoins between May 26 and May 31 for an average net price of $77,135 per coin, totaling $2.5 million, the company disclosed in an 8-K filing on Monday.
The disposal is Strategy’s first disclosed Bitcoin sale, and the proceeds will be used to pay dividends on preferred stock, according to a footnote in the filing.
The company held 843,706 Bitcoins as of May 31st at an average purchase price of $75,699, and the sale price is above its blended cost basis, but also above the level at which Bitcoin traded below $72,000 on Monday, according to CoinDesk data.
