US Stock Market Move | Bitcoin concept stocks fell across the board. Strategy (MSTR.US) fell by over 5.8%. The company sold Bitcoin for the first time in 41 months.

On Monday, stocks related to the concept of Bitcoin generally fell, with Bitcoin dropping more than 3% to $71,480. As of the time of writing, Robinhood (HOOD.US) fell more than 7%, MicroStrategy (MSTR.US) fell more than 5.8%, Coinbase (COIN.US) fell more than 5.8%, and Circle (CRCL.US) fell more than 6.4%. In terms of news, a Form 8-K filing recently disclosed by MicroStrategy showed that the company sold 32 Bitcoins between May 26 and May 31, cashing out around $2.5 million with an average selling price of approximately $77,100 per Bitcoin. This transaction ended the company's continuous 41-month streak of increasing its Bitcoin holdings since December 2022, raising concerns in the market about whether there have been adjustments to its capital management strategy. According to the announcement, MicroStrategy stated that the funds obtained from the sale of Bitcoin will be used to pay upcoming preferred stock dividend distributions. This is also a rare occurrence in recent years where the company has decreased its holdings of digital assets to meet cash flow needs. At the same time, MicroStrategy is actively supplementing liquidity through the capital market. During the same period, the company sold approximately 802,000 shares of Class A common stock through an "at-the-market" offering, generating around $128.3 million in net financing income, demonstrating its ongoing efforts to strengthen its balance sheet and cash reserves. Despite the small-scale decrease in holdings, MicroStrategy remains at the top of the global corporate Bitcoin holdings list. As of May 31, the company holds a total of 843,700 Bitcoins, with a total purchase cost of approximately $63.87 billion and an average holding cost of around $75,700 per Bitcoin.