Peter Schiff Explains Why Michael Saylor Sold 3,588 BTC Instead of More Stock to Fund Dividend Payments

Strategy sold Bitcoin to fund its dividend payments on preferred stocks and clear outstanding debts. (Credit: Photo: Pixabay)

Bitcoin prices held over $63,375 per token during premarket hours on Tuesday as trading volume surged 73.3% to $37.44 billion with market cap rising 0.9% to $1.27 trillion, according to CoinMarketCap data.

Investors are focusing on the rising Bitcoin trading volume and muted price action after Michael Saylor said in a Monday X post that his company Strategy sold 3,588 bitcoins for $215 million to pay the Q2 quarterly dividends on preferred stocks like $STRF, $STRE, $STRK, and $STRD, and the full monthly dividend for June on $STRC.