MicroStrategy transferred approximately $30.3 million in Bitcoin to Coinbase Prime on May 29. This transaction marks the firm’s first direct move to an exchange in nearly two years. The transfer follows recent executive statements suggesting Bitcoin sales may become part of the company's capital strategy.
Prediction markets currently show an 84% probability of a sale by the end of 2026. MicroStrategy’s preferred stock, STRC, recently hit a low of $97.11, falling below its $100 par value. This decline reflects broader pressure from Bitcoin’s price drop and concerns over company liquidity.
Cash reserves fell to $871 million after a $1.5 billion bond repurchase. This position covers roughly six months of annual dividend obligations for STRC shares. The company may need to sell Bitcoin or issue equity to fund future payments.