Strategy, the firm led by Michael Saylor, accelerated its Bitcoin sales last week, raising $216 million by selling 3,588 BTC to replenish dollar reserves for preferred stock dividends, according to CoinDesk. U.Today later reported a sale of $219 million worth of Bitcoin, with the company's CEO calling Bitcoin "the US of money" amid the selling. The discrepancy between the two figures—$216 million versus $219 million—likely reflects different reporting windows or rounding.
The sale follows a broader trend of corporate Bitcoin treasury strategies facing pressure. K Wave Media recently exited its Bitcoin position after a short-lived push, highlighting challenges for smaller firms holding the asset. This shift suggests the corporate Bitcoin trade is no longer one-way, as firms balance reserves with shareholder obligations.
Bitcoin's price plunged following the news, according to U.Today, though exact percentage declines were not specified in the sources. The move also coincided with other crypto market developments: Binance's XRP scarcity index hit its highest level since mid-2024, and a dormant wallet received 114 billion Shiba Inu tokens, signaling mixed sentiment across digital assets.
Analysts caution that Strategy's sales, while significant, are a routine part of its capital management and not necessarily a bearish signal for Bitcoin's long-term outlook. However, the rapid pace of selling could amplify near-term volatility, especially as liquidity tightens in related markets like XRP.