Strategy Sells 1,638 BTC as Institutional Funds Dump 10% of Holdings
MSTR sits 20% above its 52-week low of $81.81.
Summary
Strategy sold 1,638 Bitcoin last week, a notable shift for the largest corporate BTC holder. This comes as institutional Bitcoin funds collectively shed 10% of their holdings over three months, dropping from 1.33M to 1.20M BTC. The Coinbase Premium has been negative for a record 93 days, signaling weak U.S. institutional demand. Analysis warns the Bitcoin treasury model is 'breaking' as company valuations fall below net asset value, undermining the reflexive financing loop that once amplified demand. Strategy's stock trades at a discount to its Bitcoin holdings on a basic share count, though factoring in debt and preferred stock brings mNAV to 1.03. This follows Strategy's $8.2B Q2 net loss and recent $216M BTC sale at a loss, adding to pressure on its treasury strategy.
At the time of this announcement, MSTR was trading at $98.06 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $37.8B. The 52-week trading range was $81.81 to $414.36. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Cointelegraph.