Speculation about another sale of Bitcoin from MicroStrategy grew after an unconfirmed transfer on the chain showed 491 BTC leaving a wallet connected to the company on July 1. Neither MicroStrategy nor its CEO, Michael Saylor, confirmed any sale.
The rumor spread on X (Twitter) on Friday. Meanwhile, Bitcoin (BTC) traded higher after July 1, indicating that the market has taken the cue.
Did Saylor Sell More Bitcoin?
Fake seller Light known transfer, cost about $30 million at current prices. This equates to only 0.058% of the 847,363 BTC Strategy reported recently. SEC share price to reveal. Total covers about 4% of bitcoin’s 21 million coins.
Time tells the story. The method established by a Bitcoin monetization framework plan on June 29, allowing up to $1.25 billion in discretionary investment to fund acquisitions. His increased 12% stake in STRC took effect on July 1, the same day as his transfer.
The company also completed its own the first Bitcoin transaction from 2022 at the end of May, downloading 32 BTC to meet your preferred dividend. Its first sale came in December 2022.
Back then, it sold 704 BTC for $11.8 million to collect tax money, then bought another 810 BTC within days. That was before rebuilding his savings account this year as they cut back on new purchases.
“Michael Saylor’s Strategy may have just sold 491 BTC on July 1. The transaction has not yet been confirmed, but if true, this would be one of the first signs of Strategy reducing its Bitcoin position after many years of “not selling” issues…” Crypto Rover expert. to expand comments in the post.
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Bitcoin Shrugs When It Comes to Trading
Bitcoin showed little stress. The stock opened at $61,492 on Friday, up 2.5% from Thursday, and traded at $62,016 at the time of writing, up 1.35% over the past 24 hours. With this, the crypto pioneer has risen by 7% from the July 1 low of $57,800.
The strength followed a weak June jobs report rather than economic headlines. It increases the weakness Bitcoin price recovery after the worst month for prices in four years.
Reactions on X (Twitter) were divided with traders calling the investment a mistake and others warning that repeated sales could be disappointing.
Calmness is different from JPMorgan’s latest warning that the new trading system increases the risk to the crypto market. Even so, the $30 million transfer total shows that demand is outweighing those concerns.
The emphasis is now on Strategy disclosures. The company reported its May sale in a few days, so filings this week will reveal whether the transfer was a sale, a move, or an internal arrangement.
A note MicroStrategy Says It’s Going to Sell More Bitcoin, But the Market Is Not Reacting appeared for the first time BeInCrypto.
