The latest disclosure from Strategy shows that the company recently sold 32 bitcoins at an average price of $77,135 each, totaling approximately $2.5 million in proceeds. This is the company’s first disclosed sale of bitcoins since December 2022. Following the news, bitcoin briefly dropped to $71,952.
The selling volume is very small.
Calculated according to the disclosed口径, this transaction represents approximately 0.004% of Strategy's Bitcoin holdings. As of mid-May 2026, the company still holds over 843,000 Bitcoin, with no significant change in overall reserve size.
However, Strategy has long been known for consistently buying Bitcoin with very few sell actions. Therefore, even though this reduction in holdings was limited, it quickly drew market attention to its future moves.
Selling crypto for the first time in three years
Public records show that Strategy last sold Bitcoin on December 22, 2022, when the company sold 704 Bitcoin, cashing out approximately $11.8 million, primarily for tax loss harvesting.
Since then, the market has repeatedly speculated that it might be reducing its position due to on-chain transfers or movements from exchanges, but most of these rumors have not been confirmed. Over the past few years, Strategy’s primary public signal has remained consistent accumulation.
- This sale: 32 BTC
- Average execution price: $77,135
- Cash-out amount: approximately $2.5 million
Management has adjusted its stance.
In early May this year, Strategy introduced a new stance during its first-quarter earnings call. Both Executive Chairman Michael Saylor and CEO Phong Le subsequently stated that the company is moving away from its long-standing position of "never selling."
At the time, Saylor stated that even if there were sales, the company would hedge them with larger purchases. He explained that for every one Bitcoin sold, the company would buy 20.
This change means that, going forward, the market’s focus on Strategy’s position adjustments may no longer be limited to “whether to continue buying,” but will also include the specific timing of its financing, position management, and asset allocation.