Michael Saylor Strategy (formerly MicroStrategy) has deposited bitcoin on cryptocurrency exchange Coinbase, according to on-chain data. Michael Saylor previously announced that the company may sell some of its Bitcoin holdings to fund the dividend. This comes as Bitcoin falls below $73,000 and MSTR stock collapses more than 22% in two weeks.
Michael Saylor’s strategy is moving over 411 bitcoins to Coinbase
The strategy deposited 411.48 BTC worth $30.3 million into Coinbase Prime, Reported by Loconchain On May 29th. This appears to be MicroStrategy’s first direct token transfer to the exchange in nearly two years.
Arkham data It showed on-chain transfers of 205.3 BTC and 206.2 BTC. The company also transacted 0.0241 BTC worth $1.77K before sending the coins to a Coinbase cryptocurrency exchange address.
In a first-quarter earnings call earlier this month, Michael Saylor announced that the company… Selling some of her Bitcoin holdings To finance dividends. The markets have seen a shift from the strict “never sell” narrative to “maybe sell some Bitcoin.” The company plans to maximize BTC per share.
As CoinGape previously reported, The strategy used cash reserves for buybacks $1.5 billion of its 0% senior convertible notes due 2029. While it reduced total convertible debt from $8.2 billion to $6.7 billion, cash reserves fell to $871 million.
Additionally, Strategy CEO Phong Le confirmed in an interview on Thursday that the company will increase bitcoin per share. He also claimed that the company will continue to acquire BTC.
Chief Strategy Officer @Fung Lee Discusses $ Bitcoin, $STRC, $MSTROur capital markets strategy for acquiring Bitcoin and increasing Bitcoin per share @lezclaman. pic.twitter.com/scu8d4ER1N
-Michael Saylor (@saylor) May 28, 2026
MSTR shares decline amid BTC selling pressure
MSTR stock closed down 1.66% at $151.64 on Thursday. The lowest and highest prices of the day were $144.30 and $153.64, respectively. Trading volume was also below the average of 18 million, which has declined in the past few weeks.
MSTR stock has fallen more than 8% in a week and about 22% since May 11, erasing most of the gains. As CoinGape reported, the stock fell amid MSTR stock sell-off by CFO Andrew Kang And director Jarrod Patten. Michael Saylor’s strategy also temporarily halted Bitcoin accumulation.
The price of Bitcoin has fallen below $73,000, with the price currently trading at $73,312. It has been moving between a range of $72,493 and $73,834 over the past 24 hours. Moreover, trading volume decreased by 16% in the last 24 hours due to… Crypto market collapse.
CoinGlass data revealed a mix of buying and selling sentiment in the derivatives market. At the time of writing, total open interest in Bitcoin futures has fallen by more than 1.22% to $55.60 billion over the past 24 hours. Open interest for BTC futures on CME fell by more than 6% and rose by almost 2% on Binance.
