Polymarket · Bitcoin · Strategy · Cointelegraph
Strategy’s Bitcoin sale causes clash for $80 million in Polymarket bets
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A clash has erupted among Polymarket users over the timing and disclosure of a recent Bitcoin sale by Strategy, with more than $80 million traded on the disputed outcome.
Key facts
- Strategy said in a regulatory filing that it sold 32 Bitcoin (BTC) between May 26 and May 31, but the disclosure of the sale was made on Monday, June 1, leading the market to resolve to “No,” causing
- Bitcoin fell 2.5% to $70,815 within five hours of Strategy reporting the Bitcoin sale on Monday
- More than $80 million has been wagered on whether Strategy would sell Bitcoin (BTC) by May 31, with users able to buy odds on “Yes” or “No
- The market is currently awaiting the outcome of a second dispute, which is set to be decided by 12:00 am UTC on Wednesday
Summary
Polymarket users who bet on when Michael Saylor’s Strategy would sell Bitcoin are in dispute with the prediction market platform over the timing and disclosure of the company’s recent sale. More than $80 million has been wagered on whether Strategy would sell Bitcoin (BTC) by May 31, with users able to buy odds on “Yes” or “No.” Strategy said in a regulatory filing that it sold 32 Bitcoin (BTC) between May 26 and May 31, but the disclosure of the sale was made on Monday, June 1, leading the market to resolve to “No,” causing confusion among users. Odds for Polymarket’s “MicroStrategy sells any Bitcoin by May 31” market have since fallen to 0.7 cents.