PANews reported on June 5th that, according to Bloomberg, three types of investors at Michael Saylor's Strategy—Bitcoin holders, leveraged equity traders, and preferred shareholders—are all facing pressure. Strategy sold 32 bitcoins this week, its first sale since the end of 2022, breaking its "never sell" pledge. Bitcoin fell to a four-month low, Strategy's stock price is down about 70% from its high last year, and STRC preferred stock has fallen below $100 par value. STRC's annualized dividend is 11.5%, and if the market continues to weaken, the pressure to pay dividends will continue to rise.

Analysts point out that raising the dividend yield would add a $1.7 billion burden, while keeping it unchanged would cause the price to continue to decline. Strategy will vote on Monday to change the dividend to be paid twice a month to stabilize the price. Arca's chief investment officer stated that unless Bitcoin rebounds before its cash buffer runs out, protecting all stakeholders is virtually impossible. StoneX, however, believes that this sale demonstrates Strategy's ability to fulfill its obligations without substantially reducing its holdings.