Selling 32 “test liquidity” units—this operation is quite meticulous. It looks like MSTR’s BTC per-share strategy has entered a dynamic rebalancing phase.

BlockBeats reports that Strategy sold 32 BTC last week, at an average price of approximately $77,135, totaling about $2.5 million, marking the first active public sale. The stock price dropped over 6% in pre-market trading, and industry insiders generally believe this is due to liquidity management, balance sheet optimization, or "BTC per share" strategy needs, rather than a bearish signal. Market discussions largely consider the scale to be limited, possibly used to test liquidity and tax optimization, while some also believe this indicates a potential shift in dynamic capital allocation.