Strategy completed its largest Bitcoin disposal to date, selling 3,588 BTC for $216 million. On-chain data shows the bitcoin moved from the company's primary address to a new wallet, consistent with a custodial transfer for sale.
The transaction falls under Strategy's BTC Monetization Program, which allows the company to actively manage its Bitcoin treasury. It is the third significant sale under that program.
The latest sale follows an identical transaction from July 1–5, when Strategy also disposed of 3,588 BTC for $216 million. Before those, a smaller sale of 32 BTC occurred in late May.
Between its late May and early July sales, Strategy purchased 3,657 BTC at prices significantly higher than recent disposal levels, raising the company's average cost basis.
Bitcoin's price declined from $74,000 in late May to below $58,000 last week before recovering to approximately $64,000 over the July 4 weekend. The July 1–5 sale cut short that recovery. Bitcoin currently trades at $62,553, down 0.9 percent over the last 24 hours.
Strategy's only prior major Bitcoin sale before these recent transactions occurred in late 2022, which preceded an eight-fold rally in Bitcoin's price.
On-chain tracker Lookonchain identified the movement of bitcoin from Strategy's known addresses. The transfer to a newly created wallet with no prior transaction history is consistent with preparing assets for sale through a custodian.
Executive Chairman Michael Saylor has consistently advocated for Bitcoin as a long-term treasury reserve asset. The BTC Monetization Program marks a shift in the company's approach to its holdings.
Proceeds from the sale provide Strategy with capital for general corporate purposes. Bitcoin's 24-hour trading volume runs into the billions of dollars, and the market absorbed the transaction without significant disruption.
