Bitcoin fell below $68,000 on June 3, down more than 17% since early May. Two major bearish signals were triggered on the same day: Strategy announced it sold its first Bitcoin since 2022, selling 32 BTC for a profit of $2.5 million; and the U.S. Central Command (CENTCOM) conducted a self-defense strike on Qeshm Island on June 2 against Iran.
Strategy’s First Coin Sale Details: 32 BTC, $2.5 Million Profit, and Use of Preferred Share Dividends
On June 2, Strategy announced it sold 32 Bitcoin, generating a profit of $2.5 million—its first de-risking since 2022. In its statement, Strategy said the proceeds are expected to be used to fund distributions for its “preferred stock”—a series of high-yield investment products established by Saylor over the past year, backed by the company’s Bitcoin holdings.
Chairman Michael Saylor had previously hinted at this possibility during the Q1 earnings call, saying: “We may sell some Bitcoin to pay dividends, just to give the market a shot in the arm, and also to send a message—look, everything is fine, Bitcoin is fine.” Strategy currently holds about 4% of the global Bitcoin supply, worth approximately $6.67 billion, surpassing BlackRock to become the world’s largest holder of a crypto-currency institution.
U.S.-Iran Military Conflict Confirmed: Timeline of Events on June 2–3
According to CENTCOM’s official statement: on June 2, CENTCOM shot down three Iranian drones targeting civilian vessels; Iran launched ballistic missiles at U.S. allies in the Persian Gulf region, “all missiles missed their intended targets.” This included three missiles launched toward Bahrain that were intercepted by air defense systems, and two missiles launched toward Kuwait that fell or broke apart during flight. CENTCOM then carried out a “self-defense strike” on a ground control station on Qeshm Island.
In its statement, the IRGC said its strike targets included the headquarters of the U.S. Fifth Fleet in Bahrain. Arab media reported that airports in Bahrain, Kuwait, and the UAE suspended operations due to airstrikes. CENTCOM said the U.S.-Iran ceasefire agreement was reached on April 7. CENTCOM described the ceasefire as “continuously in effect,” but sporadic clashes were still ongoing.
Analyst Commentary: Market Interpretation of Strategy’s Sale News and Competition for AI Liquidity
Pratik Kala (Head of Research and Portfolio Manager at Apollo Crypto) said: “Even if Strategy only sold a small portion, it basically clears the fog. People are now asking: if even the largest Bitcoin holders are selling, what does that mean? This will create a vicious cycle of fear, uncertainty, and doubt.”
Ryan McMillin (Co-founder and Chief Investment Officer at Merkle Tree Capital) said: “The appeal of hype-driven assets like gold and artificial intelligence has indeed hurt demand for crypto. If last year’s artificial intelligence hadn’t developed as fast as it has now, I think Bitcoin’s price might be higher. Artificial intelligence has absorbed a lot of liquidity, especially from people with higher risk tolerance who want to hold high-growth assets.”
FAQ
What is the official reason for Strategy’s sale of 32 Bitcoins?
Strategy’s statement confirms that the proceeds are expected to be used to fund distributions (dividends) for its “preferred stock.” Michael Saylor had already hinted at this during the Q1 earnings call. This is Strategy’s first de-risking since 2022.
What is the current status of the U.S.-Iran ceasefire agreement?
According to CENTCOM’s official statement, the U.S.-Iran ceasefire agreement was reached on April 7, 2026. It stopped most direct hostilities from the preceding three months of war, and CENTCOM said the ceasefire is “continuously in effect.” However, the latest clashes on June 2–3 indicate that sporadic conflicts under the ceasefire framework are still continuing.
When did Strategy last sell Bitcoin?
Strategy’s previous reduction of Bitcoin was at the end of 2022, when the Bitcoin price fell below $17,000 amid a low point in the crypto market. After that, up to June 2, 2026, Strategy remained in a continuous accumulation state.
