Strategy Sells Another $102 Million Worth of Bitcoin
Strategy, a company known for its massive Bitcoin holdings, has sold another large portion of its stash. Last week, it offloaded 1,637 BTC worth approximately $102.3 million.
This sale reduces Strategy's Bitcoin holdings to 842,138 BTC, still making it the world's largest corporate holder of the cryptocurrency. At current prices, its entire stash is valued at roughly $52.65 billion.
Michael Saylor, Strategy's CEO, confirmed the transaction and explained that it was part of a broader treasury management strategy rather than a shift in the company's long-term Bitcoin thesis.
The sale marks the third time this year that Strategy has reduced its position, with previous sales tied to funding corporate initiatives or meeting dividend obligations. Despite trimming its position multiple times in 2023, Strategy continues to hold more than 4% of Bitcoin's total supply.