Strategy Sells 32 Bitcoin for $2.5 Million While Continuing Net Accumulation
Michael Saylor's Strategy sold 32 bitcoin last week for roughly $2.5 million at about $77,135 each. The transaction marks the company's first bitcoin sale in more than three years.
gizmodo.comStrategy sold 32 bitcoin for approximately $2.5 million last week at an average price of $77,135 per coin. The disposal is the company's first since December 2022, when it sold 704 bitcoin near $16,776 each before buying 810 bitcoin two days later.
Context from 2022 Transaction The 2022 sale occurred near the bottom of a bear market that followed the collapse of exchange FTX. Bitcoin traded below $16,500 at the time. The company described the 2022 transaction as a tax-loss harvesting move. It left Strategy with a larger bitcoin position after the subsequent purchase.
Strategy now holds more than 843,000 bitcoin, up from roughly 132,500 at the end of 2022. The firm has expanded its capital structure to include convertible debt, common-equity issuance programs, and multiple preferred-stock offerings. The latest sale represents less than 0.004 percent of its total holdings.
Some observers questioned whether the sale signals a shift in Strategy's accumulation approach. The company continues to buy bitcoin aggressively and raise capital for additional purchases.
“This may just be the beginning of much larger sales to come.”
The transaction may reflect that bitcoin sales are no longer viewed as unthinkable within Strategy's operating model, though the firm has not indicated any change to its overall strategy.
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