Strategy Sells 3,588 BTC at $60k to Fund Dividends

Strategy, led by Michael Saylor, has reportedly sold 3,588 Bitcoin at $60k for approximately $216 million. This move marks a rare instance of the company monetizing a portion of its massive Bitcoin holdings. The sale is designed to meet financial commitments while preserving the company's core strategy of accumulating and holding one of the world's largest corporate Bitcoin reserves.

The proceeds from the sale are being used to fund dividends on Strategy's suite of Digital Credit securities, including quarterly dividends for $STRF, $STRE, $STRK, and $STRD, as well as the full monthly dividend for June on $STRC. Despite the sale, Strategy continues to hold a substantial 843,775 BTC in its Bitcoin reserves along with $2.55 billion in USD reserves.

The announcement has sparked sharp reactions across the crypto community, with some critics pointing out that Strategy buys Bitcoin at highs and sells at lows. Peter Schiff criticized the execution as poor, claiming that those handling Strategy's order flow are profiting handsomely from the timing and execution of these trades.