Strategy's BTC Sell-Off Tops $102M as Company Funds Dividends with Crypto

Strategy, led by Michael Saylor, has been slowly selling its Bitcoin holdings over the past year. Despite Saylor's long-held stance that he 'never sells' a single satoshi of his own stack, the company has been quietly reducing its BTC stash to fund dividends and service debt.

The first sale was in December 2022, when Strategy sold 704 BTC at a $9.6 million loss. The next sales came in May-June 2026, with Strategy unloading 32 BTC for a small gain of around $46,000, followed by three larger sales that resulted in total realized losses of over $102 million.

The company's cost basis is around $63 billion, and its unrealized loss is approximately $9.6 billion. According to Saylor, he has never sold any of his own Bitcoin holdings, but the company's balance sheet has been selling some of its own coins to fund dividends and debt repayment.