Strategy just sold 1,690 BTC.
That headline sounds bearish at first glance, but the reason behind it is more interesting.
The bitcoin was sold around $64,300 to fund a $108.6 million buyback of STRC preferred shares.
At the same time, another $650 million raised from MSTR stock sales was directed into the company’s USD reserve.
Strategy still holds 840,447 BTC.
My take: this looks far more like balance-sheet management and preferred-share cleanup than any real exit from Bitcoin.
Would you call this bearish for Bitcoin?
That headline sounds bearish at first glance, but the reason behind it is more interesting.
The bitcoin was sold around $64,300 to fund a $108.6 million buyback of STRC preferred shares.
At the same time, another $650 million raised from MSTR stock sales was directed into the company’s USD reserve.
Strategy still holds 840,447 BTC.
My take: this looks far more like balance-sheet management and preferred-share cleanup than any real exit from Bitcoin.
Would you call this bearish for Bitcoin?