Strategy Surpasses Even Binance Despite Recent Bitcoin Sale

Strategy, one of the giants in the cryptocurrency world, incurred a loss of approximately 20 percent on its recent Bitcoin (BTC) sale carried out due to liquidity needs, while continuing to outperform exchanges like Binance with its massive reserves.

Moves by institutional investors took center stage in the cryptocurrency markets this week. In particular, the latest Bitcoin (BTC) sale by the company Strategy revealed striking data regarding market dynamics and cost balances. The company offloaded 3,588 BTC worth approximately $216 million to fund dividend payments for digital credit securities.

The most striking detail of this sale was the loss the company incurred from the transaction. While the company’s cost of acquiring these assets—its cost basis—averaged $75,476, the sale took place in the $60,000 range, indicating a loss of approximately 20 percent. Experts emphasize that this move stems from the company’s urgent need for cash rather than a shake in market confidence.

The Race of Giants in Bitcoin Reserves

Despite the sale, Strategy continues to be one of the largest players in the market with 843,775 BTC. This amount even surpasses the 656,561 BTC reserve held by Binance, the world’s largest cryptocurrency exchange. In an era where exchanges hold a total of approximately 8 million BTC, Binance maintains its clear leadership among centralized exchanges by controlling about 29.75 percent of all exchange reserves on its own.

Data shows that the realized price, which represents the average cost of all assets on Binance, is around the $60,900 level. This figure remains well below Strategy‘s cost basis. While the cost balance in exchange reserves tracks closely with the market price, high-cost purchases by institutional giants can leave them under pressure in the short term. Among other exchanges, Bitfinex and Gemini follow Binance with shares of 16.75 percent and 8.66 percent, respectively.