Strategy bitcoin sale timing throws wrench into $20 million Polymarket pool
·2 min read
Compiled by KHAO Editorial
— aggregated from 5 sources + 2 references discovered via search.
See llms.txt for citation guidance.
✓ KHAO Verified
Strategy's disclosure that it sold 32 bitcoin last week has complicated the resolution of a Polymarket pool that has drawn more than $20 million in trading volume.
Key facts
On Monday, Strategy revealed in an SEC filing that it sold 32 BTC between May 26 and May 31 to help fund distributions on its preferred stock offerings
Updated at 18:22 UTC to add Polymarket's addition context note
Strategy's disclosure that it sold 32 bitcoin last week has complicated the resolution of a Polymarket pool that has drawn more than $20 million in trading volume
The market asked whether Michael Saylor's bitcoin treasury company Strategy would sell any of its bitcoin holdings before May 31, which traders could take binary "Yes" or "No" positions
Summary
The market asked whether Michael Saylor's bitcoin treasury company Strategy would sell any of its bitcoin holdings before May 31, which traders could take binary "Yes" or "No" positions on. On Monday, Strategy revealed in an SEC filing that it sold 32 BTC between May 26 and May 31 to help fund distributions on its preferred stock offerings. Supporters of a "Yes" resolution point to Strategy's filing, which explicitly states that the sales took place before the deadline. Others say the information was not publicly available when the market closed, making a "No" resolution appropriate under the market's rules.