Strategy Sold 32 Bitcoin… And That’s a Good Thing.
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Compiled by KHAO Editorial
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Michael Saylor once said never sell Bitcoin.
Key facts
In its latest filing, Strategy disclosed that it sold 32 BTC for approximately $2.5 million at an average price of $77,135 per bitcoin
At the same time, the company reported holdings of 843,706 BTC and a $900 million USD reserve
The market did not need to see Strategy sell 32 BTC, but Michael Saylor needed the market to see that it
If demonstrating operational flexibility attracts more investors, lowers perceived risk, and expands the pool of capital available to the company, then a sale of 32 BTC today could ultimately support
Summary
On May 5, Michael Saylor made an unusual comment. “The team will probably sell some Bitcoin to pay a dividend to inoculate the market. For years, Strategy had built its reputation around an uncompromising commitment to accumulating and holding Bitcoin. In its latest filing, Strategy disclosed that it sold 32 BTC for approximately $2.5 million at an average price of $77,135 per bitcoin.