Unexpected Move from Saylor: Strategy Sells This Much for the First Time, Bitcoin Falls

Strategy, led by Michael Saylor, caused significant market volatility by selling a total of 3,588 Bitcoin (BTC).

One of the largest institutional investors in the cryptocurrency world, Strategy (MSTR), departed from its long-term accumulation strategy to conduct its first large-scale Bitcoin (BTC) sale. According to the company’s official data, this move made last week resulted in the disposal of approximately $216 million worth of assets.

Looking at the current data shared by the company, the sales appear to have taken place in two stages. The company first sold 1,363 BTC on June 30, followed by another 2,225 BTC on July 6, resulting in a total reduction of 3,588 BTC. This operation was recorded as the first serious move to liquidate since the company’s previous symbolic sale of 32 BTC.

Bitcoin Price Reacts to the Sale News

With the spread of the sale news, downward pressure formed on the Bitcoin price, the leading cryptocurrency. The pair, which was trading at higher levels before the news, quickly lost about $1,000 in value, retreating to the $61,900 levels. Looking at the company’s average selling prices, it is understood that the first batch was released to the market at $59,256, and the second batch at $60,773.

Despite this large sale, Strategy still holds a massive portfolio. Following the latest updates, the company’s total reserves have been updated to 843,775 BTC. While the impact of Michael Saylor’s move on the market is being debated, the fact that the company’s total Bitcoin reserve value is still over $52 billion demonstrates the scale of institutional interest.