@UndyingValue 1 week ago
Strategy (MSTR) is selling small amounts of Bitcoin to cover cash obligations
Strategy (MSTR) is selling small amounts of Bitcoin to cover cash obligations
Strategy (MSTR), formerly known as MicroStrategy, has been selling some of its Bitcoin. They just sold 1,690 BTC for about $100 million, continuing a pattern of small sales that started in May.
The company is using the proceeds to meet cash obligations and support their stock value. While it might look bad since they are the largest corporate holder of Bitcoin, the recent $100 million sale is only about 0.2% of their total position. They still hold over 840,000 BTC, which is roughly 4% of all Bitcoin in circulation.
Bernstein analysts pointed out that fears over the company's model are overblown and maintained their $150,000 price target for the end of the year. That said, Bitcoin is down nearly 15% since the company started selling in May.

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| Michael Saylor's Strategy Is Selling Bitcoin Again. Here's Why I'm Still Bullish on Bitcoin. | The Motley Fool

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