Bitcoin Bulls Buy The Dip And Use Leverage To Keep BTC Price Pumping
- Strategy Inc. sold 3,588 Bitcoin for approximately $216 million last week, according to a Monday SEC filing, reducing total holdings to 843,775 BTC.
- To fund a liquidity reserve of roughly $3.8 billion, Strategy may sell Bitcoin to cover preferred stock dividends and interest payments for 12 months.
- Sales were executed at an average price of roughly $60,000 per Bitcoin, though Strategy still holds 843,775 BTC acquired at an average purchase price of $75,476 per token.
- JPMorgan analysts noted that selling Bitcoin adds uncertainty to a market rife with FUD, while the company's USD reserves totaled $2.55 billion as of July 5.
- Beyond potential asset sales, Strategy authorized a $1.0 billion share repurchase program and a plan to potentially repurchase preferred stock to support investor confidence.
45 Articles
45 Articles
Whales Long Bitcoin With 40x Leverage as Strategy Dumps $216M BTC
Large crypto traders are maintaining bullish leveraged positions on Bitcoin and Ethereum despite selling pressure from Michael Saylor's Strategy. On X, blockchain analytics platform Lookonchain highlighted several high-leverage positions opened by whale wallets.Visit Website
Strategy Inc., by Michael Saylor, sold $216 million in bitcoin last week, marking the first major step in reformulating the financing model announced by the company in recent days, after a prolonged fall in cryptocurrency and its own shares. The transaction is the company's largest sale of bitcoin since it began to form its reserves in 2020, and only the third in total. Strategy's shares fell by about 2% in the pre-market on Monday, while the bi…
Major crypto holder Strategy sells $216M of Bitcoin as it abandons Michael Saylor’s ‘never sell’ mantra
Strategy, the largest corporate crypto hoarder, sold $216 million of Bitcoin last week – a sign that it is abandoning co-founder Michael Saylor’s “Never sell your Bitcoin” mantra as a slumping digital asset market hits its own shares.
Michael Saylor is one of the most important supporters of Bitcoin. However, the market development makes the investor rethink. Strategy makes sales in this dimension for the first time.
Coverage Details
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
