MSTR Stock Forecast: Why Strategy Sold Bitcoin for the First Time Since 2022

Strategy, the Bitcoin treasury company chaired by Michael Saylor, sold a small portion of its Bitcoin holdings last week, marking its first disclosed net sale of the asset in more than three years. The sale came as Bitcoin weakened toward the $72,000 area and Strategy shares moved lower in pre-market trading. According to a Monday filing , Strategy sold 32 BTC between May 26 and May 31 for about $2.5 million. The average sale price was $77,135 per Bitcoin. The company said the proceeds will be used to fund dividend payments on STRC, its perpetual preferred stock, also known as ”Stretch.” The transaction represented a very small share of Strategy’s overall Bitcoin treasury. As of May 31, the company still held 843,706 BTC at an average purchase price of $75,699 per coin. Based on those figures, the sale accounted for about 0.0038% of its total holdings. Strategy Sells Bitcoin to Fund STRC Dividends The sale followed recent comments from Strategy executives about actively managing the company’s balance sheet. The company had long been associated with Saylor’s “never sell” Bitcoin approach, but management has recently indicated that limited sales may be considered when they support financial goals. Strategy Chief Executive Phong Le said during the company’s May earnings call that the firm wants to remain a net aggregator of Bitcoin while also increasing Bitcoin per share. He said that the metric is viewed internally as an important measure for long-term shareholder value. STRC has become a key part of Strategy’s financing structure. The preferred stock is designed to provide yield to investors and is backed by the company’s Bitcoin-heavy balance sheet. Strategy has used products such as STRC, common stock sales, and other capital tools to support its treasury strategy. During the same May 26 to May 31 period, Strategy also sold 801,994 shares of common stock, raising $128.3 million. The company allocated part of the proceeds to lift its U.S. dollar cash reserve from $871 million to $900 million. It had also recently spent $1.5 billion to repurchase its 2029 convertible notes. MSTR Shares Drop as Bitcoin Weakens Strategy shares (MSTR) fell more than 6% in early trading after the filing. Bitcoin also moved lower, falling near its weakest level since mid-April. The asset traded around $72,105 in the latest reported session, down about 1.99% on the day. The Bitcoin sale came during a broader pullback in the crypto market. Bitcoin has dropped more than 42% from its all-time high above $126,000. Spot Bitcoin ETFs also recorded a 10-day streak of net outflows, the longest such stretch reported for the products. Market pressure also followed reports that Iran halted talks with the United States in response to Israel’s actions in Lebanon. After Bitcoin fell below $71,500, more than $90 million in BTC-tracked futures positions were liquidated, according to the market data cited in the report. This is not the first time, though, Strategy has sold Bitcoin. However, the latest sale differs from Strategy’s December 2022 Bitcoin transaction. At that time, the company sold 704 BTC but later bought 2,395 BTC, making the activity a net increase. The 2022 sale was widely viewed as tax-loss harvesting during a bear market. The latest filing showed a standalone net reduction, but the Chairman, Michael Saylor, had predicted it as we reported. Bitcoin Price Analysis Tests $72K Support Bitcoin’s daily chart remains under pressure after the price failed near the $82,000 resistance area. BTC later lost the $79,000 and $78,000 support zones, creating lower highs and lower lows on the short-term chart. The current support area sits near $72,000; however, if a close comes below that level, it could open a move toward the $70,000 zone. If selling continues, the next support areas sit near $68,000 and the $66,000 to $65,000 range. On the upside, Bitcoin faces resistance near $73,500 to $74,000. A move above $76,000 could reduce immediate selling pressure, while a daily close above $79,000 would give buyers a stronger technical signal. This BTC price trend was, however, expected, with Cryptoquant data showing Bitcoin’s one-week realized volatility has dropped to about 17%, down from nearly 39% at the start of the quarter. The current reading is far below its long-term median near 34% and reflects a market that has moved into a narrow trading phase. Source: Cryptoquant Low realized volatility does not show direction by itself. It shows that Bitcoin’s recent price movement has been compressed. In previous cycles, long periods of quiet trading have often preceded larger moves once volume returns. Concurrently, the technical indicators are still showing weak momentum. The Relative Strength Index is near 32.31, close to oversold territory but not yet showing a confirmed recovery. In addition, the Moving Average Convergence Divergence has remained bearish, with a negative histogram and no clear upward cross, which hints BTC may test its lower support levels.