$BTC MicroStrategy, the software and Bitcoin-hoarding firm co-founded by Michael Saylor, sold 32 Bitcoin for $2.5 million (around $77,135 per coin). This marks the first Bitcoin sale for the company since late 2022, with the proceeds intended to fund distributions on preferred stock and demonstrate the tradability of their assets.
The Sell-Off: Between May 26 and May 31, the company liquidated the tokens at an average price of $77,135.Total Holdings: Following the sale, MicroStrategy's massive Bitcoin hoard sits at roughly 843,706 BTC.Company Strategy: Michael Saylor, who serves as Executive Chairman, signaled the possibility of token sales during the company's recent quarterly earnings call. Despite this minor sale, the firm remains heavily committed to its aggressive Bitcoin-acquisition playbook.If you'd like, let me know if you are interested in:The current MicroStrategy (MSTR) stock performance.A detailed breakdown of their quarterly buying sprees.Projections for the broader cryptocurrency market. Top storiesStrategy sells $2.5 million of $BTC in first sale since 2022
