Strategy sold 3,588 BTC last week.
That's 112x more than the 32 BTC they sold a few weeks ago (which freaked out the market).
Here's what's happening and why they are doing this...
1. Last week = Strategy sold
Last week, Strategy sold 3,588 BTC and used all of the proceeds ($216m) to fund dividend payments on their suite of preferred equities.
Q2 dividend payments for STRF, STRK, STRD, and STRE... and June dividends for STRC.
Notably, BTC price opened last week at $59.5k. Strategy sold 3,588 BTC over the course of the week, yet BTC price went up to $63.5k.
2. The bigger picture = Strategy is NET buying
Strategy bought 85,296 BTC in Q2. Their combined selling for Q2 was 3,620 BTC (32 + 3,588).
In other words, they bought 22.5x more BTC in Q2 than they sold.
(For 2026 YTD numbers, Strategy has bought ~175k BTC and sold 3.6k BTC. That's a 48x ratio.)
3. The message in advance
Weeks ago, Saylor explained what they are doing, in an interview with @CryptoMichNL (see clip)
"On occasion, we'll buy 20 Bitcoin & we'll sell 1 Bitcoin... Then the credit investors will give us enough to buy 20 more Bitcoin."
Saylor further explained the strategic rationale of selling Bitcoin...
"Our credit investors expect that we're going to support the credit dividend and pay it (and our asset is BTC)... 'will you sell some Bitcoin to pay us the money?' They expect me to say yes, because if I'm not going to pay the dividend, they're not going to buy the credit & the credit agency won't rate the credit."
4. What Strategy is doing
Strategy is showing the market that they can and will sell BTC. They are doing this to gain access to more credit market capital... so that they can buy much more BTC.
Saylor has recently asserted that it's important to "buy more Bitcoin than you sell."
This is that in action. In Q2, they bought 85k BTC. They then used 3.5k BTC to fund the dividends on the Digital Credit that enabled them to buy 85k BTC.
They bought 22.5 and sold 1.
5. What to expect next
Saylor said they will "inoculate the market" by selling a little BTC.
This is the second dose of inoculation. They will keep doing it until the market expects it and no longer reacts to it.
They are not dumping their BTC treasury strategy for dollars. That is the click-bait headline for the uninformed.
What they are telling you is that they plan to sell 1 BTC so they can buy 20 BTC. Over and over.
Corporate insider buying has been steadily accelerating. Sustained accumulation phases like this have been uncommon and historically tended to appear months ahead of some of the market’s stronger advances. Not predictive on their own, but rarely irrelevant.
Read Full Analysis: https://t.co/b5EidO7rr2
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