Strategy just sold $BTC at a massive loss.
Michael Saylor's Strategy sold 3,588 BTC last week for approximately $216M, at an average price of $60,197 per BTC. Based on the company's reported average acquisition cost of $75,651 per BTC, the sale locked in a loss of more than $55M.
It's a rare move for Strategy, which has long been known for its "buy and hold" approach to Bitcoin. The sale comes as the company adjusts its capital strategy, marking a notable shift from its previous stance of continuously accumulating #BTC .
Even after the sale, Strategy remains one of the world's largest corporate Bitcoin holders, so the market will be watching closely to see whether this is a one-off transaction or the start of a broader trend.
Michael Saylor's Strategy sold 3,588 BTC last week for approximately $216M, at an average price of $60,197 per BTC. Based on the company's reported average acquisition cost of $75,651 per BTC, the sale locked in a loss of more than $55M.
It's a rare move for Strategy, which has long been known for its "buy and hold" approach to Bitcoin. The sale comes as the company adjusts its capital strategy, marking a notable shift from its previous stance of continuously accumulating #BTC .
Even after the sale, Strategy remains one of the world's largest corporate Bitcoin holders, so the market will be watching closely to see whether this is a one-off transaction or the start of a broader trend.