Strategy Transfers 299 BTC, Sparks Speculation of Another Sale

Strategy, owned by Michael Saylor and listed under ticker MSTR, may be selling more Bitcoin after transferring 299.843 BTC to a new address. The transfer was reported by Lookonchain, which tracks on-chain movements of cryptocurrency. This move comes days after Strategy reported a $24.45 per share GAAP loss in the second quarter due to an $8.32 billion unrealized loss on its Bitcoin holdings under fair-value accounting rules.

Saylor explained that the loss was caused by a 'meaningful Bitcoin price decline' and 'muted Bitcoin sentiment and market skepticism'. He attributed it to macroeconomic headwinds, not structural problems with Bitcoin.

The transfer sparked speculation among crypto traders that another sale could follow. However, there is no evidence that the Bitcoin has been sold. Strategy's last major on-chain movement of its holdings was in July when they sold 3,588 BTC worth around $216 million.