Strategy sold 3,588 Bitcoin (BTC) for about $216 million, using its new treasury framework for the first time to fund dividends.
Key Points:
- Strategy sold 3,588 BTC to fund dividends on its Digital Credit securities.
- The transaction reduced its Bitcoin holdings to 843,775 BTC.
- The sale marks the first disclosed use of its Digital Credit Capital Framework.
Strategy Bitcoin Sale
Michael Saylor said that Strategy sold 3,588 BTC to support dividend payments tied to its Digital Credit securities.
After the transaction, the company held 843,775 BTC and $2.55 billion in U.S. dollar reserves.
The sale came one week after Strategy disclosed its Digital Credit Capital Framework in a Jun. 29 Form 8-K. That filing said the company made no Bitcoin purchases during the week ended Jun. 28 and still held 847,363 BTC at the time.
The framework allows Strategy to sell Bitcoin under defined conditions. The company may use proceeds to build its U.S. dollar reserve, pay preferred dividends and interest expenses, and repurchase preferred securities or Class A common stock.
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Saylor Treasury Shift
The move marks a change in how Strategy manages its Bitcoin balance sheet. For years, the company’s identity in crypto markets was built around steady accumulation, not selective sales.
The new framework does not require Strategy to sell Bitcoin. It gives the board a formal policy for using part of the company’s holdings when liquidity is needed for specific corporate purposes.
That distinction matters because the sale does not, by itself, reverse Strategy’s long-term Bitcoin position. The company still holds more than 843,000 BTC, making the latest transaction small relative to its overall reserve.
The sale also follows a rapid shift in tempo. Strategy bought 520 BTC for $34.9 million in the prior reporting period, then paused purchases, introduced the framework and used the policy to fund dividends within roughly one week.
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