Strategy Sells More BTC Amid Cautious Market, BlackRock Expands Tokenized Funds

Bitcoin's price has been stuck in a narrow range despite trading slightly higher on Tuesday. The world's largest cryptocurrency rose about 1% to $64,064 during trading, but struggled to build momentum as traders remained cautious over global events and mixed signals from the corporate sector.

Strategy, the largest corporate holder of Bitcoin, revealed that it sold another 1,683 Bitcoin last week, receiving approximately $104.7 million from the sale. This marks the third time in recent weeks that Strategy has reduced its Bitcoin holdings, but the company still owns 842,138 Bitcoin, making it by far the largest corporate investor in the cryptocurrency.

Weak quarterly earnings from cryptocurrency exchange Coinbase and a cyberattack involving a major crypto wallet provider also weighed on market sentiment. Hackers reportedly stole nearly $90 million worth of Bitcoin from cold wallets linked to Canadian crypto wallet company Coinkite, highlighting the ongoing security risks in the industry.