Strategy Dumps Another 1,690 BTC in Ongoing Bitcoin Sell-Off
The world’s largest corporate holder of bitcoin continues to offload portions of its cryptocurrency fortune.
In the latest example, the company sold another 1,690 BTC for $108.6 million and used the proceeds to repurchase 1.15 million STRC preferred shares. It also sold 6.59 million MSTR shares to raise $653.1 million and increase its USD reserve to over $4.6 billion.
Its total bitcoin stash has declined to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385.
Some analysts were quick to determine that the firm has resumed its bitcoin purchases after a hiatus of a month and a half. However, Lookonchain reported that a wallet linked to Strategy has sold another portion of BTC, just like it did during the previous week, and claimed that the message actually meant more offloads.
Meanwhile, H100 Group indeed resumed its BTC purchases, announcing a substantial acquisition of 2,455 units in the world’s first Bitcoin-for-Bitcoin transaction.
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