Michael Saylor's Strategy Sold 32 Bitcoin at $77,135 — Then Piles $101 Million Back in at $65K

Days after Michael Saylor's Strategy offloaded 32 BTC at $77,135 per token, the largest corporate BTC holder in the world disclosed in a Monday 8-K filing with the US Securities and Exchange Commission (SEC) that it purchased 1,550 Bitcoins at an average price of $65,332 per token between 1 June and 7 June.

The purchases were funded using proceeds from at-the-market sales of its class A common stock. Last week, the company sold over 1.4 million class A shares for around $181 million in proceeds. Nearly $26 billion of the MSTR stock remains available for issuance under that programme, according to the filing.

Strategy also boosted its USD reserves to $1 billion as of 7 June, up from $900 million as of 31 May. The company also extended its at-the-markets programmes to include up to an additional $21 billion of the MSTR stock, $21 billion of the STRC preferred stock, and $2.1 billion of the STRK preferred stock.

Saylor also reposted Strive CEO Matt Cole's post that Strive acquired 32 Bitcoins for $2.1 million to now hold a total of 19,032 BTCs worth over $1.1 billion. This post also triggered speculations that Saylor directly sold the BTC to Strive. 'Strive just pulled off the most legendary corporate troll in Bitcoin history,' Coinminutes said in a Monday post on X, while praising Strategy for its relentless accumulation of the digital asset.

While several Bitcoin enthusiasts are claiming that the markets failed the BTC IQ test, some are debating about shareholder dilutions and yields. BTC prices crashed after Saylor sold 32 tokens only to pile up on the asset days later. Crypto critics continue to warn about the rising levels of manipulation in digital asset markets, which is resulting in massive losses for investors worldwide.

Shareholder Dilution Concerns

X user Matthew Kratter highlighted that Strategy stockholders are getting diluted, claiming they now own fewer BTC per share compared with the week earlier. 'The preferred shareholders thank you for your sacrifice!' he wrote on X.

However, another X user refuted Kratter's views, arguing that Bitcoin per share has only decreased by 0.2% from 220,429 to 220,016 for the week ended 8th June, while BTC yield is up 12.8% this year.

On Sunday, Saylor also hinted in a separate post about upcoming Bitcoin purchases. 'A good time to add more dots,' he wrote on X.

In a late Friday essay, Saylor had also highlighted that BTC's long-term success relies on accommodating diverging visions rather than adopting a single ideology.

'The mission is not to choose between purity and adoption, or between innovation and stability,' Saylor had noted. The mission is to ensure that Bitcoin remains Bitcoin while the world builds on it.'

He added that Bitcoin is no longer a 'narrow' technical experiment, but has become the dominant digital monetary network and a global asset with 'profound' implications for all individuals, institutions, and nation-states.

Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.