Multiple institutions sold off Strategy shares in Q3, totaling approximately $5.38 billion.

According to CryptoSlate, institutional investors significantly reduced their holdings of Strategy (MSTR) stock in the third quarter, selling positions worth approximately $5.38 billion. The value of institutional holdings fell from $36.32 billion to $30.94 billion, a decrease of 14.8%.

The report analyzes that this sell-off was not due to forced liquidation caused by a market crash. Bitcoin remained relatively stable during the quarter, with the price hovering around $95,000, and MSTR's stock price also traded sideways around $175.