MicroStrategy sold 32 bitcoins between May 26 and May 31. The sale generated approximately $2.5 million. This marks the company's first cryptocurrency sale in several years. Proceeds will fund distributions on its preferred stock. The sale represents a tiny fraction of MicroStrategy's total holdings. As of May 31, the company held 843,706 bitcoins.
During the same period, MicroStrategy sold 801,994 shares of its Class A common stock. This generated net proceeds of $128.3 million. The company conducted this through its at-the-market (ATM) offering program. These sales reflect MicroStrategy's ongoing strategy to manage its capital structure and bitcoin treasury. Following the news, MicroStrategy's stock declined.