Strategy Liquidates $216M in Bitcoin to Cover Dividend Obligations Amid Criticism

• Strategy sold a total of 3,588 Bitcoin for around $216 million over the past week, reducing its holdings to 843,775 BTC.
• Critics called out the company and Saylor for selling BTC way below their average purchase cost of $75,476 per BTC

Strategy (MSTR), a Bitcoin (BTC) development company and enterprise business solutions provider, has approved the sale of a portion of its BTC reserves under its newly introduced Digital Credit Capital Framework. The move drew sharp criticism toward Executive Chairman Michael Saylor, with observers noting the firm missed an opportunity to divest during a stronger market cycle.

Strategy Sells Bitcoin Holdings

In a Form 8-K filing and a statement from Saylor, Strategy confirmed it disposed of 3,588 BTC across two transactions over the past week. The sales generated roughly $216 million, bringing the company’s total Bitcoin holdings to 843,775 BTC.

According to the figures, Strategy sold 1,363 BTC on June 29 for $80.8 million, averaging $59,256 per coin. On July 1, it sold an additional 2,225 BTC for $135.2 million, at an average price of $60,773 per coin.

The company conducted the sales to fund its Digital Credit Dividends. This action falls under its BTC monetization strategy within the Digital Credit Capital Framework, which permits Bitcoin to be sold at management’s discretion to bolster cash reserves, pay dividends, service preferred share interest, and support share buybacks.

Strategy stated the proceeds raised its U.S. dollar reserves to $2.55 billion. With annual shareholder dividends of $1.763 billion, the current cash position covers approximately 17.4 months of dividend payments under existing conditions.

Bitcoin’s circulating supply now exceeds 20.05 million, with Strategy holding 4.2% of the available float.

Critics Respond to Strategy’s Bitcoin Sales

Industry commentators criticized Saylor’s announcement of the sale. Peter Schiff, Chairman of SchiffGold, argued the execution was poor, noting the average sale price of about $60,000 per BTC was well below the portfolio’s average acquisition cost of $75,476.

Pseudonymous analyst Doctor Profit recalled urging Saylor to sell at $120,000 per BTC, a suggestion reportedly met with a laughing emoji. Crypto influencer Ansem, identified as Zion Thomas and recently linked to a Pump.fun token dispute, sarcastically suggested Saylor sell the entire treasury so the market could proceed without the company’s influence.

Other observers referenced Saylor’s past messaging urging the crypto community to never sell Bitcoin and even to “sell a kidney” to acquire more, arguing the recent sale contradicted that stance.

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