Strategy confirmed the sale of 3,588 BTC, raising $216 million, which will be used to pay dividends on digital credit securities.
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Strive CRO: Strategy's sale of 3,500 Bitcoins helps buy more BTC.
Odaily Odaily News | _2024111120230_ | An article published on the X platform states that Strive's CRO, PunterJeff Walton (@PunterJeff), explained that Strategy's recent sale of 3,500 Bitcoins is actually positive and will help it buy more BTC. He stated that this will provide more support for STRC and its future growth potential, enabling it to buy more BTC, and MSTR shareholders should take a positive view of this.
Strategy pauses BTC buys, launches $1.6B cash pool after $2B raise
Strategy held off on new Bitcoin buying, maintaining holdings at 840,447 BTC as it launched a $1.59 billion cash pool after raising $2 billion from MSTR stock sales.
Analysis: Bitcoin may be entering a period of bottoming out; Strategy's sale of Bitcoin did not trigger panic.
According to a recent report by Bitfinex Alpha, as Odaily by Odaily, Strategy recently conducted its first large-scale Bitcoin sale, but the market showed strong resilience and no significant selling pressure emerged. Bitcoin rebounded after hitting a low of $57,803 on July 1st, and its performance in July remains positive, consistent with the views expressed in Bitfinex Alpha's previous report (No. 212), suggesting a potential market correction this month. Data shows that Strategy may have executed a BTC sale between June 29 and July 2, but the price of Bitcoin still saw a positive weekly increase during the same period, rising approximately 10.5% from its cycle low. Furthermore, on the last trading day of last week and the first trading day of this week, Bitcoin spot ETFs recorded inflows exceeding $200 million per day, ending a previous 10-day streak of net outflows, with a cumulative outflow of $2.73 billion. June was a challenging month for Bitcoin ETFs, with net outflows for nine consecutive weeks, reaching nearly $4.06 billion in June alone. However, these redemptions primarily reflect authorized participants (APs) returning ETF units and a decrease in passive funding demand, rather than indicating a large-scale immediate sale of Bitcoin through on-chain markets. The market is currently unable to fully determine whether investors have digested recent changes in fund flows, but spot trading volume does not fully reflect the impact of the previous large-scale outflows. With changes in ETF asset allocation and a return to positive fund flows, the Bitcoin market may face new variables in July. After a brief dip following the announcement of the Strategy sale, BTC prices quickly stabilized and have now returned to the lower end of the first quarter trading range, exceeding pre-announcement levels. ETF fund flows have recorded net inflows for three consecutive trading days, and the $61,000 level has become a crucial dividing line between bullish and bearish forces in the market. Bitcoin is currently in a downtrend on a higher timeframe, but the market structure is changing. Approximately 10.83 million BTC are currently in an unrealized loss state, while about 9.22 million BTC remain profitable, marking the first time that the number of losing BTC has exceeded the number of profitable BTC. Historically, this phase typically indicates significant pressure on spot holders and often approaches the bottoming phase of a bear market. However, a true macro bottom still needs confirmation from key indicators, such as Bitcoin consistently recovering to its current "True Market Mean" of around $71,500. While the current market environment may dampen sentiment in the short term, it also creates conditions for long-term funds to absorb selling pressure. As long-term holders and some whale re-accumulate, Bitcoin is shifting from low-conviction holders to high-conviction investors, and the next two to three months may be a crucial window for confirming a temporary bottom.
Two addresses withdrew 550 BTC from OKX 10 hours ago, worth $35.05 million.
PANews reported on July 8th that, according to on-chain analyst Ai Yi, two addresses withdrew 550 BTC from OKX 10 hours ago, worth $35.05 million. One of these addresses, 15oD9…FmR51, has a history of financial connections with the Tokyo Bitcoin Vault (referred to by the community as "Asia MicroStrategy"), but it is uncertain whether it belongs to that entity.
Strategy Buys Back $139 Million of STRC, Bitcoin Stack Frozen for Second Week
The Bitcoin treasury firm slowed its preferred-stock buyback from last week's $176 million pace and left its 845,050 BTC untouched, per a Monday SEC filing.
Nasdaq Is Investing $100 Million In Kraken Parent Payward At $21 Billion VALUATION-BLOOMBERG News - Rtrs
TreeNews News, Nasdaq is Investing $100 Million in Kraken Parent Payward at $21 Billion VALUATION-BLOOMBERG News - Rtrs