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Crypto

Strategy Unloads Another Large Batch of Bitcoin

Guavy AI Editorial Team
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BTC
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Strategy, a company led by Michael Saylor, sold 1,690 Bitcoin for approximately $108.6 million between August 3 and August 9. This sale took place at an average price of $64,262 per BTC.

This marks the second time this year that Strategy has sold its Bitcoin holdings, having made a first sale in June since 2022. The company's total Bitcoin holding now stands at 840,447 units, acquired for an aggregate purchase price of around $63.36 billion.

Bitcoin critic Peter Schiff views this development as evidence that Saylor has abandoned the idea of 'digital credit'. According to Schiff, lenders lack confidence in using BTC as collateral, leading Strategy to sell its Bitcoin holdings and raise cash.

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