Catenaa, Monday, June 1, 2026- Michael Saylor’s bitcoin treasury company Strategy sold 32 bitcoin for about $2.5 million between May 26 and May 31, marking the company’s first bitcoin sale since 2022 and fueling renewed debate over institutional crypto treasury risks.
The sale has also sparked intense debate over a $20 million Polymarket prediction pool, creating conflict over whether outcomes should be judged on when an event occurs or when the evidence becomes public.
While the market has been challenged after twice resolving to “No,” Polymarket has indicated support for the “No” voters by stating that confirmation achieved outside the market’s timeframe does not qualify.
Strategy disclosed in a filing with the US Securities and Exchange Commission that the bitcoin was sold at an average price of $77,135 per coin to help fund dividend distributions tied to its preferred stock offerings.
The sale reduced Strategy’s holdings to 843,706 BTC, currently valued at roughly $61 billion, while maintaining its position as the world’s largest public corporate bitcoin holder.
Strategy’s remaining bitcoin reserves represent more than 4% of bitcoin’s fixed 21 million supply cap.
The company accumulated its holdings at an average purchase price of about $75,699 per bitcoin, resulting in an implied paper loss of roughly $2.9 billion at current market prices.
The disclosure followed recent onchain transfers that sparked speculation Strategy was preparing to sell bitcoin. Arkham Intelligence data showed the company moved more than 411 BTC from Coinbase Prime custody to a cold wallet last week.
The sale also comes as Strategy expands several capital-raising programs linked to common shares and preferred stock products.
The move raised concerns among some investors because Saylor previously became known for his “never sell bitcoin” stance.
However, company executives said earlier this year that selective bitcoin sales may be necessary to fund obligations linked to perpetual preferred stock products such as STRC.
Saylor argued that Strategy intends to remain a net bitcoin accumulator by purchasing far more bitcoin than it sells over time.
The sale also triggered controversy within Polymarket after a prediction market involving whether Strategy would sell bitcoin before May 31 generated more than $20 million in trading volume.
Some Polymarket traders argued the market should resolve “Yes” because the sale occurred before the deadline.
Others argued the result should remain “No” because the information was not publicly available before the market closed.
Polymarket later added a clarification note suggesting that confirmation outside the specified time frame would not qualify under the market’s rules.
Analysts said the dispute highlights ongoing governance and transparency challenges facing crypto prediction markets and decentralized dispute-resolution systems.
Strategy last sold bitcoin in December 2022, when it liquidated 704 BTC before quickly repurchasing a larger amount as part of a tax-loss strategy.
The company remains central to the broader corporate bitcoin accumulation movement, which now includes nearly 200 public companies globally.
Despite continued bitcoin accumulation, Strategy’s stock remains sharply below its 2025 highs as investors increasingly debate the sustainability of leveraged bitcoin treasury models during periods of weaker crypto prices.
Strategy sold bitcoin for the first time since 2022 to fund preferred stock obligations, intensifying debate over corporate bitcoin treasury risks and market governance.
