Michael Saylor's Bitcoin Treasury Firm Strategy Sells 32 BTC for $2.5 million
·2 min read
Compiled by KHAO Editorial
— aggregated from 8 sources.
See llms.txt for citation guidance.
✓ KHAO Verified
Bitcoin treasury firm Strategy sold 32 BTC from its holdings last week for roughly $2.5 million, per an SEC filing.
Key facts
The Bitcoin-buying firm’s shares fell more than 8.5% to around $145, drawing close to a 45-day low, according to Yahoo Finance
Strategy's Bitcoin sale comes a week after the firm used 61% of its dedicated cash buffer, worth some $1.38 billion, to repurchase $1.5 billion in convertible notes
Bitcoin treasury firm Strategy sold 32 BTC from its holdings last week for roughly $2.5 million, per an SEC filing
Strategy's move had an immediate impact, with Bitcoin's price dropping to over $72,000 on the news, down 2.4% on the day according to CoinGecko data
Summary
Bitcoin treasury firm Strategy has sold 32 BTC for roughly $2.5 million at an average sale price of $77,135 per Bitcoin. The move marks a reversal of the firm's "never sell" stance, and comes after its CEO had said Strategy "will sell Bitcoin when it's advantageous to the company. Following the news, Bitcoin dropped to around $72,000. Funds from the sale of BTC will be used to fund distributions on preferred stock, the firm said in the filing.