Michael Saylor · Strategy · BitMine Immersion Technologies · Bitcoin · CoinDesk
Saylor's Strategy sold bitcoin for the first time since 2022
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Strategy (MSTR), the company whose bitcoin accumulation strategy inspired a new generation of so-called digital asset treasury firms, sold BTC for the first time since December 2022, offloading roughly $2.5 million worth of tokens.
Key facts
- The company purchased roughly $53 million worth of ETH last week and accumulated over 338,000 tokens through May, worth roughly $665 million at current prices
- Genius Group (GNS) said in April it liquidated its remaining 84 BTC to pay down $8.5 million of debt
- Nakamoto Holdings (NAKA), the bitcoin treasury company led by David Bailey, sold 284 BTC in March, about 5% of its holdings
- Another Ethereum-centric Bit Digital (BTBT) returned to the market in May, buying $20 million worth of ETH
Summary
Strategy sold bitcoin for the first time since December 2022, ending a streak that helped define the crypto treasury trade. Most digital asset treasury firms have halted purchases or started selling assets since the market turned lower in October. Bitmine and Strive remained among the few companies still actively buying over the past month. The move came as the scheme has faced major headwinds since gaining popularity last year.