Strategy Sells $216M in Bitcoin: What It Means

Why it matters

The sale, carried out between 29 June and 5 July and disclosed via an SEC Form 8-K, marks a break from years of accumulation-only positioning. Bitcoin fell roughly 2% following the announcement, in a market already weakened by a difficult first half of 2026.

What we know

According to the filing, Strategy sold 1,363 BTC at an average price of $59,256, then 2,225 BTC at $60,773. Proceeds funded quarterly dividends on several preferred stock series (STRF, STRE, STRK, STRD) and the monthly dividend on STRC, whose annual rate was raised to 12%. After the sale, the company still holds 843,775 BTC, worth roughly $52.3 billion, and retains a $2.55 billion cash reserve, unchanged from the prior filing. Strategy also reported an $8.32 billion loss on digital assets for the quarter.

On market indicators, bitcoin's 365-day Sharpe ratio dropped to around -20, its lowest since late 2022, a reading that has historically aligned with cycle bottoms in 2015, 2019 and 2022. Bernstein maintains a $150,000 year-end bitcoin target, while some analysts flag a deeper downside scenario if market structure fails to stabilise.

Separately, monthly stablecoin volume hit an adjusted record of $1.79 trillion in June, led 67% by Circle's USDC. This comes as Tether's USDT lost access to regulated EU platforms from 1 July for lacking MiCA authorisation, while Circle, holding an e-money institution licence, kept its EU listings. 

What's confirmed as of today

Strategy sold 3,588 BTC for $216 million between 29 June and 5 July 2026, per an SEC filing. The company holds 843,775 BTC and $2.55 billion in USD reserves as of 5 July. Bitcoin's Sharpe ratio hit its lowest level since 2022 in late June, per CryptoQuant. Adjusted stablecoin volume reached $1.79 trillion in June, per Visa. USDT lost MiCA compliance in Europe as of 1 July 2026.