Strategy CEO cites testing, tax reasons for first BTC sale since 2022

1 min

MicroStrategy sold 32 BTC in late May. Phong Le says it was signaling, a process test, and tax-loss harvesting.

The sale ran May 26–31 at ~$77,135 per coin for ~$2.5M, the first since 2022. Source: CNBC.

Le’s three reasons on record:

Market inoculation. Show they can sell when warranted, so future disposals don’t shock investors. Source: Le’s CNBC segment clip.
Process test. Validate sell-side ops, custody, execution, settlement before any scale use. Source: Le’s CNBC segment clip.
Tax-loss harvesting. A repeat of the 2022 approach. Source: Coinspeaker coverage of the 32 BTC sale for tax purposes.

“We’re net purchasers of Bitcoin.” Le reiterated this and framed the sale as optionality, not distress. Source: Le’s CNBC segment clip.

Scale check. 32 BTC is a tiny fraction of MicroStrategy’s multihundred-thousand BTC treasury. Source: Coinspeaker.

Market reaction. MSTR fell about 25% after the June 1 disclosure. Chart: TradingView.