Strategy Shares Fall More Than 4% in Premarket After Bitcoin Sale

Strategy shares fell more than 4% in premarket trading after the company disclosed a partial sale of its Bitcoin holdings and a sizable digital-asset loss for the second quarter.

Cryptocurrency-focused outlet Odaily reported on July 6 that the stock was down more than 4% before the opening bell.

Earlier in the day, Chairman Michael Saylor wrote on X, formerly Twitter, that Strategy sold 3,588 Bitcoin for $216 million to fund dividend payments on its digital credit securities.

Odaily described the transaction as Strategy's largest Bitcoin sale since it began buying the cryptocurrency in 2020. It was also the company's third Bitcoin sale on record.