Discussions continued on the first small-scale sale of bitcoin by Strategy. Blockstream CEO Adam Back argued that the transaction was closer to the financial movement of the enterprise rather than a shift in the Bitcoin Treasury strategy. Strategy then continued to buy bitcoin and allowed the market to refocus its financing and dividends.
32 bitcoins sold for the red.
According to previous disclosures, Strategy sold 32 bitcoins between 26 May and 31 May at an average price of $77,135, a total of approximately $2.5 million. It was indicated that the funds would be used for the allocation of the company ' s priority shares.
The sale was small, accounting for only about 0.0038 per cent of the Bitcoin holding warehouse at the time. However, this deal has been a source of concern because of Michael Saylor's long-standing public emphasis on not selling bitcoin.
- Number sold: 32 BTC
- Average price: US$ 77,135
- Use of funds: priority share dividends
Adam Back called it financial flexibility.
Adam Back stated that the market should not interpret the transaction as empty signals. In his view, Strategy had used only a very small fraction of the bitcoin hold-up to meet the payment needs of investors and to ease short-term pressure on the capital structure.
In his view, it also reflected another use of bitcoin in the enterprise ' s balance sheet. Enterprises can not only hold bitcoin on a long-term basis, they can also finance this part of the asset and use the holding warehouse to a limited extent when cash needs arise.
Previously, Saylor had also distinguished on BTC Prague personal investment advice from the operation of the company's treasury. At that time, he stated that what he said was “never sell bitcoin” for individual investors, not for financial arrangements at the company level.
I sold it and bought 1550 bitcoins.
This sale did not interrupt Strategy's increased rhythm. Crypto.news subsequently reported that the company had bought an additional 1,550 bitcoin at $101.3 million, and that the total of the stock had risen to 845,256.
This new purchase, which is close to 50 times the size of the sale described above, also serves as an important basis for supporting Adam Back ' s view that the sale of 32 bitcoins does not mean that Strategy is withdrawing bitcoin.
At the same time, the market continues to focus on the priority stock pressure of Strategy. The report mentions that the company ' s STRC priority share fell by $100 at one time. Some critics argue that if the market environment becomes weaker, the burden of dividends may be more difficult to manage, while proponents argue that this small-scale sale of currency suggests that the company still has a variety of financing instruments and does not have to forgo long-term growth plans.
- Follow-up purchases: 1,550 BTCs
- Purchase value: $101.3 million
- Latest hold: 845,256 BTC
At present, the focus of the market debate is not entirely on whether Strategy continues to value bitcoin, but rather on how this company, while maintaining investor confidence, deals with the balance between priority dividends and balance sheets.