Strategy sells 32 Bitcoin at $77,135 each as CEO defends controversial move

Strategy Inc. sold 32 Bitcoin at an average of $77,135 each between May 26 and May 31, generating about $2.47 million.

Phong Le, chief executive officer of Strategy, said the sale was a test of the company's operational processes and not a sign that the firm needed cash for dividend payments, according to a statement.

The sale came one week after the company bought 1,550 Bitcoin at $65,332 per coin — below its own average cost basis — according to public filings. The reversal from accumulation to a small sale drew backlash from retail investors who had followed Executive Chairman Michael Saylor's long-standing "never sell" advice. Saylor later clarified that his guidance was always intended for individual investors, not corporate treasury management.

The 32-coin sale represents less than 0.1 percent of Strategy's total Bitcoin holdings of more than 500,000 coins, making it the largest corporate Bitcoin holder by a wide margin. Still, any disposal by the company risks being interpreted as a bearish signal for the broader market, with Bitcoin trading below $64,000 on Sunday amid broader selling pressure across the cryptocurrency market. The next key support level sits at $62,000, while resistance remains at $66,500, according to CoinGecko data as of 14:00 UTC.

This article is for informational purposes only and does not constitute investment advice.