MSTR Stock Slumps Amid Strategy Wallet Transfer
MSTR stock is under scrutiny after a wallet linked to Strategy transferred 1,030 BTC, valued at nearly $66.14 million, according to Lookonchain.
The transaction has raised concerns about potential corporate selling and the impact on MSTR's market value and financing outlook.
Strategy has not confirmed that the transfer involved a sale, but the company did confirm it sold 1,638 BTC between July 27 and Aug. 2, receiving $104.73 million after fees.
The average sale price was $63,957 per Bitcoin, which is below Strategy's average cost basis of $75,419 per coin.