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Strategy Sells $215M More BTC as Bitcoin Holds Steady
Strategy sold $215M in BTC over two weeks to fund dividends, and BTC closed the week higher, testing whether the market can absorb ongoing sales.
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In the wake of its BTC Monetization Program, Strategy announced it sold another 2,225 BTC between July 1 and July 5 for $135.2 million, bringing its total sales over the past two weeks to roughly $215 million. Bitcoin closed the week up despite the selling.
What's the Scoop?
- The Sales: Strategy sold 1,363 BTC for $80.8 million between June 29 and June 30, then another 2,225 BTC for $135.2 million between July 1 and July 5. Total holdings now stand at 843,775 BTC at an average purchase price of $75,476. Both sales funded preferred dividend payments and replenished the USD Reserve.
- Full $1.25 Capacity Still Remains: The categorization of these sales suggests the $1.25 billion figure is not a total ceiling on BTC sales under Strategy’s BTC Monetization Program. The latest sales appear to fall under the program’s dividend-and-reserve-replenishment prong, a separate allowance of selling BTC which preserves the separate $1.25 billion capacity to expand it later.
- Market Absorption: Bitcoin closed the week higher despite Strategy's $225 million in sales, the first real test of whether the market could absorb Strategy selling without flinching. Many more will come though, especially given that not every sale counts towards the $1.25 billion capacity for building reserves.
