Bitcoin24h $64,114.58+1.01%

Ethereum24h $1,871.33+0.95%

BNB24h $598.05+1.64%

XRP24h $1.07-0.66%

Solana24h $74.10+1.28%

TRON24h $0.3280-0.50%

Hyperliquid24h $57.41+5.09%

Dogecoin24h $0.0699-0.27%

UNUS SED LEO24h $9.76-0.20%

Zcash24h $516.36+6.18%

Bitcoin plummets to $67K after Strategy sale

BTC fell 4.4% within 24 hours of Strategy disclosing its voluntary sale of 32 BTC. Two hours later, it fell another 2%.

Strategy’s USD reserve didn’t last long

Strategy diluted common stockholders to build a USD reserve for dividend and interest payments, then used the cash for something else.

The CEO of Strategy has made $37 million in total compensation over the past three years while buying less than $20,000 in STRC for his kids.

Strategy’s bitcoin acquisition strategy has cost over $1 billion and it has generated annual returns of just 1%.

A possible interplay of Strategy STRC issuances is creating an uptick in short-selling demand for MSTR.