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Vaneck: Saylor’s Strategy Sold $135 Million in Bitcoin Without Tapping Its $1.25 Billion Monetization Program
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Vaneck Head of Digital Assets Research Matthew Sigel says the roughly $135 million in bitcoin Strategy sold last week did not draw down the company’s $1.25 billion BTC Monetization Program, leaving that capacity fully intact.
Key facts
- The company first sold 1,363 BTC at an average price of $59,256, then another 2,225 BTC at an average of $60,773
- Vaneck Head of Digital Assets Research Matthew Sigel says the roughly $135 million in bitcoin Strategy sold last week did not draw down the company’s $1.25 billion BTC Monetization Program, leaving
- The recent sales trimmed Strategy’s holdings from 847,363 BTC to roughly 843,775 BTC, still far ahead of any other corporate treasury
- Lumida Wealth CEO Ram Ahluwalia says Strategy has flipped from bitcoin's marginal buyer to its marginal seller, while Cryptoquant CEO…
Summary
Vaneck’s Matthew Sigel says Strategy’s $135M July bitcoin sale left its $1.25B monetization program untouched. Strategy sold 3,588 BTC for about $216M between June 29 and July 5 to fund preferred stock dividends. Sigel called Strategy ‘a hedge fund’ trading its own capital stack and bitcoin, saying he pays a low P/E for it. Strategy Inc.’s (Nasdaq: MSTR) latest bitcoin sales did not count against the company’s previously announced $1.25 billion BTC Monetization Program, according to Vaneck Head of Digital Assets Research Matthew Sigel.