Michael Saylor · Strategy · X · CoinDesk
Michael Saylor breaks silence after Strategy sells $2.5 million in bitcoin
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"Our goal is to make STRC the best credit instrument in the world," Saylor wrote on X on Monday.
Key facts
- This time, it sold at an average price of $77,135, with bitcoin now trading around $70,000 after falling as low as $60,000 in February
- Yet the company's only previous bitcoin sale took place in December 2022, when the largest cryptocurrency was priced at roughly $18,000, weeks after the collapse of crypto exchange FTX pushed prices
- The post came after the company said it sold 32 bitcoin for about $2.5 million last week
- A running joke among crypto followers on X, the so-called Crypto Twitter, is that Strategy always buys bitcoin at the weekly high
Summary
Strategy sold 32 bitcoin for roughly $2.5 million, with proceeds expected to fund distributions on its STRC preferred stock. The sale has sparked comparisons to the company's December 2022 bitcoin sale near the market bottom, prompting speculation the company may have once again sold near a market bottom. The post came after the company said it sold 32 bitcoin for about $2.5 million last week.