Michael Saylor's Strategy Sold 3,588 Bitcoin at a Loss: What Is Happening?

Strategy Inc. (NASDAQ: MSTR ) sold 3,588 Bitcoin (CRYPTO: BTC) for roughly $216 million last week to fund preferred stock dividends, with MSTR falling 5% in pre-market trading after the announcement.

The Sale Was 112 Times Larger Than The One That Crashed Markets A Month Ago Strategy sold 32 Bitcoin in early June and sent crypto prices plunging.

Last week’s sale was 3,588 coins, executed at an average price of roughly $60,000 per Bitcoin, well below Strategy’s average purchase price of $75,476.

The company now holds 843,775 BTC acquired for approximately $63.69 billion.

Strategy said proceeds fund distributions on its preferred stock and replenish the portion of its USD reserve used for those payments.

The reserve stands at $2.55 billion as of July 5, and the company confirmed the full $1.25 billion capacity under its Bitcoin Monetization Program remains unused.

Strategy also said it sold no shares under its at-the-market equity program and repurchased none under its buyback programs during the same week.

Schiff Says The Losses Are Just Getting Started Peter Schiff calculated that at $60,196 average sale price against Strategy’s $75,476 cost basis, each Bitcoin sold crystallizes roughly a $15,000 realized loss, totaling approximately $54 million on the 3,588-coin sale alone. “With over 840K Bitcoin left to sell, the total losses will be much greater,” Schiff wrote.

He also argued the entire business model has now flipped.

Where Strategy once sold stock and issued debt to buy Bitcoin, Schiff says the new model runs in reverse: sell Bitcoin to pay interest and dividends, pay off debt, buy back previously issued shares, and hope Bitcoin’s price rises enough to make it all work.

Strategy’s Q2 filing confirmed $8.32 billion in total digital asset losses for the quarter, including $8.31 billion in unrealized losses as Bitcoin’s market value fell below the company’s purchase cost.

Saylor Posted A ‘Bitcoin Is Digital Energy’ Chart Sunday Saylor shared a Bitcoin acquisition tracker chart on X Sunday with the caption “Bitcoin is digital energy,” a post format that has historically preceded acquisition announcements the following day.

However, this week it preceded a sale instead.

MSTR Trades Between Two Extreme Levels With No Clear Direction MSTR trades 45.8% below its 200-day moving average, with the October 2025 death cross still firmly in place.

The stock sits not far above its 52-week low of $81.81 after printing its all-time high of $457.22 earlier in the cycle, keeping volatility extremely elevated.

MACD sits below its signal line with a negative histogram, confirming fading momentum.

Resistance sits at the 20-day SMA at $109.27, the first ceiling any rebound attempt needs to clear.

Losing the 52-week low at $81.81 opens a fresh breakdown with no major support below that level.

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