Strategy has sold another large batch of Bitcoin, prompting comparisons with its only previous major $BTC sale in late 2022.
A popular post on X noted that the last time Michael Saylor’s company sold a significant amount of Bitcoin, $BTC later climbed roughly fivefold from its bear-market low. Some traders believe history could repeat itself.
Strategy Sells 3,588 $BTC to Fund Dividends
On Monday, Michael Saylor announced that Strategy sold 3,588 $BTC for approximately $216 million. The proceeds will fund dividends on the company’s Digital Credit securities. After the sale, Strategy said it still holds:
- 843,775 $BTC in its Bitcoin reserves.
- $2.55 billion in U.S. dollar reserves.
The latest transaction follows the sale on June 30, when Strategy sold 1,363 $BTC for about $80.77 million at an average price of $59,256 per $BTC. Meanwhile, the company also sold 2,225 $BTC for $135.22 million at an average price of $60,773.
In total, the company has sold 3,588 $BTC within a week. Based on Strategy’s average purchase price of $75,651 per $BTC, the $BTC sale resulted in a realized loss of more than $55.44 million.
Earlier in June, the company also sold a much smaller 32 $BTC for about $2.47 million at an average price of $77,135.
First Major Sales Since the 2022 Bear Market
Before this recent selling activity, Strategy’s only notable Bitcoin sale came in December 2022. The company sold 704 $BTC at roughly $16,500 per coin as part of a tax-loss harvesting strategy. The sale generated approximately $11.8 million.
The move was short-lived. Strategy soon repurchased 810 $BTC, leaving its long-term Bitcoin strategy largely unchanged. Aside from that transaction, the company had not made any significant Bitcoin sales until this year’s activity.
The timing has drawn attention because both selling periods occurred during bear markets. Notably, Bitcoin traded near $16,400 during the December 2022 sale and later reached $126,200 in October 2026. This represents over 7.7x price expansion.
Meanwhile, the recent sales came after $BTC had fallen about 50% from its all-time high, trading near $58,000 before rebounding. At press time, Bitcoin had recovered about 6% to around $63,010.
What Another 5x Rally Would Look Like
If Bitcoin’s price repeats the roughly 7.7x rally that followed the 2022 bear market low, $BTC could reach about $484,800 from its current price of around $63,010.
With approximately 20.05 million $BTC in circulation, that price would value Bitcoin at roughly $9.72 trillion. However, whether such a rally happens remains uncertain.
