BIT: Strategy's continued Bitcoin sales create some selling pressure but do not change the bottom-line assessment for Bitcoin

Odaily Odaily News BIT stated in its latest On Target weekly report that Strategy (formerly MicroStrategy), once known for its "never sell" stance on Bitcoin, is now gradually selling off its Bitcoin holdings. According to company disclosures, the Bitcoin it can sell is being used to supplement dollar reserves, pay preferred stock dividends and interest, and repurchase digital credit securities.

BIT believes that Strategy's continued Bitcoin sales will bring some selling pressure to the market, and also means the market can no longer take its structurally engineered buy-side demand for granted. Until the capital strategy becomes clearer, institutional investors may continue to adopt a wait-and-see approach.

However, BIT stated that Strategy's sell-off does not change its judgment on Bitcoin's expected trajectory, nor does it affect the previously set bottom target. Still, this shift may prompt other Bitcoin reserve companies, especially their shareholders, to reassess their own strategies.