Strategy's operation on bitcoin over the past few weeks has been clearly repeated. The company first bought thousands of BTCs in high places and then sold thousands of them, raising market concerns. According to the latest disclosure, Strategy is still the largest listed company with Bitcoin, but its tempo has changed.
The rhythm of the sale.
Strategy bought 3,657 BTCs in the near future and sold 3,588 BTCs a few days later. Prior to this, 32 BTCs were sold by companies at the end of May, which also triggered market fluctuations. It is generally accepted that this sequence of actions indicates that its bitcoin strategy is being adjusted.
Second quarter record a huge loss.
At the same time, the company disclosed losses of $8.32 billion recorded in the second quarter in the holding of bitcoin. According to the article, the losses were mainly due to the BTC price's fall between the beginning of April and the end of June. Strategy currently holds 843,775 bitcoins at an average purchase price of approximately $75,476.
Follow-up or slowing down
It was also mentioned that Strategy had sufficient carrying cash to cover priority dividends for more than 17 months. The market therefore expects that there is a low likelihood that the company will continue to buy BTC in the short term. At the same time, if there were any subsequent reductions, the scale rate would be limited.