BTC Selloff: Institutional Investors Dump Stash Amid Crisis

The 'never sell' Bitcoin narrative is facing a severe test as institutional investors who previously held onto their BTC are now selling. MicroStrategy, a prominent player in this space, has already sold its stash twice this year, and now another company, The Smarter Web Company, has liquidated $11.68 million worth of BTC to pay off debt.

This move raises questions about the role of Bitcoin as a 'forever' treasury asset. If companies that have staked their reputation on holding onto their BTC are choosing to sell, does this imply that it's not as reliable as initially thought?

The fact that these companies prefer to liquidate their Bitcoin rather than issue equity also suggests that they view it as a disposable asset in times of crisis. This challenges the notion that Bitcoin is a permanent reserve.