Strategy Sells $216M Worth of Bitcoin Amid Crypto Market Volatility

Michael Saylor's Strategy sold 3,588 Bitcoin (BTC) to fund preferred stock dividend payments and replenish its cash reserves. The total sale amount was $216 million, reducing its total holdings to 843,775 Bitcoin.

The sale took place between June 29 and July 6, with prices ranging from $59,256 to $60,773 per BTC. This is the first reported sale of Strategy's Bitcoin since a tax-loss transaction in 2022.

Before the sale, Bernstein suggested that Strategy was unlikely to be forced to sell its holdings due to its liquidity position and cash reserve coverage.

US President Donald Trump has also made headlines for his crypto investments. He earned $1.4 billion from crypto-related ventures while in office, according to his 2025 financial disclosure report. Trump claimed there was 'nothing wrong' with profiting from his investments as president, but critics have characterized the investments as a 'grift.'

Senator Kirsten Gillibrand has proposed barring elected officials and their spouses from issuing or sponsoring their own tokens, citing President Donald Trump's memecoin.