Bitcoin Rebounds 2% After Strategy Inc. Clarifies $5 Billion Sales Plan
Bitcoin (BTC) rebounded in price by 2% over the past 24 hours, reaching $63,322 as investors responded positively to Michael Saylor's explanation about Strategy Inc.'s $5 billion bitcoin sales plan.
The company clarified that it has never had a 'never sell' policy and plans to remain a net buyer of Bitcoin in the long term. This news helped alleviate concerns about the company's intention to hold onto its large Bitcoin holdings, which currently total 843,775 BTC purchased for $63.69 billion, averaging $75,476 per BTC.
Strategy Inc.'s announcement provided transparency and reassured investors that any limited sales are for corporate finance management, not a shift in the company's long-term thesis on Bitcoin. This reinforces MicroStrategy's role as a bellwether for corporate Bitcoin adoption.