Strategy Sells $216M Bitcoin, Bollinger Bullish on BTC: Hodler's Digest
Strategy said the sales were part of a new capital-allocation policy as bitcoin recovered after Trump voiced support for crypto.
- On Monday, Strategy Inc disclosed it sold $216 million worth of Bitcoin between late June and early July, marking a departure from Executive Chairman Michael Saylor's promise to hold the digital asset indefinitely.
- The company announced a policy shift allowing sales for "capital allocation purposes" to balance interests among preferred stockholders, common stockholders, and Bitcoin investors. Cantor analyst Ramsey El-Assal called the preferred stock, STRC, the firm's "center of gravity."
- Regulatory filings reveal Strategy sold roughly $80.8 million of Bitcoin from June 29 to June 30, followed by $135.5 million from July 1 to July 5. Despite these sales, the firm remains the largest corporate holder with 843,775 Bitcoin worth around $52.1 billion.
- Bitcoin recovered from early losses on Monday after President Donald Trump publicly voiced support for cryptocurrency during a news conference. Trump stated, "Well... I've become a big crypto guy."
- Barclays analyst Ajay Rajadhyaksha noted the reversal of Strategy's public promise caused a "significant hit to sentiment" among investors. While Strategy shares rose about 1% on Monday, analysts expect the firm to continue periodic actions to lift STRC to par.
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The Bitcoin treasury firm Strategy (MSTR) has completed its largest crypto sale to date by divesting 3,588 Bitcoin for $216 million between June 29th and July 5th. The transaction happened under the firm’s newly introduced BTC monetization program designed to support dividend payments. “This framework is designed to strengthen credit quality and enable the Company […] The post Strategy Executes Record $216,000,000 Bitcoin Sale Under New Program …
Strategy Sells $216M Bitcoin, Bollinger Bullish on BTC: Hodler's Digest
Bitcoin dips but recovers after Strategy dumps 3,888 BTC. Bitcoin's realized profit and loss ratio falls to a 43-month low of -0.35, a figure that signals a market bottom says CryptoQuant. Hodler's Digest.
Strategy Sells $216 Million of Bitcoin as It Begins Overhaul
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