MicroStrategy sells 32 BTC, triggers $200,000 prediction payout

MicroStrategy reported it sold 32 Bitcoin between May 26 and May 31 in a Form 8-K filed June 1. The filing lists an average net price of about $77,135 per coin and says proceeds will support dividends on certain series of preferred stock and other obligations.

The filing shows MicroStrategy held 843,706 BTC as of May 31, with a total cost basis of roughly $63.87 billion, equal to about $75,699 per Bitcoin on average. The 32-BTC sale represents less than 0.004% of the company’s disclosed holdings. MicroStrategy also reported it maintains a $900 million U.S. dollar reserve earmarked for those liabilities.

On-chain observers flagged transfers from wallets associated with the company to an exchange custody service in the days before the 8-K, generating market attention. A prediction market had been pricing a roughly 11% chance that MicroStrategy had sold; after the filing, a trader who wagered on a sale collected an estimated $200,000 payout.

MicroStrategy last disclosed a Bitcoin sale in December 2022, when it sold 704 BTC for tax-loss purposes and then repurchased Bitcoin two days later. Since then, the company has expanded its Bitcoin holdings through at-the-market equity raises and preferred stock offerings, and it continues to report a strategy of active balance-sheet management alongside a large Bitcoin treasury.

The June 1 filing frames the transaction as part of ongoing treasury-management activities, with proceeds directed to preferred dividends and related obligations. The company continues to report its Bitcoin-per-share metric and dividend-yield targets as part of its capital planning.