BIT: Strategy's continued Bitcoin sales create some selling pressure, but do not change the assessment of Bitcoin's bottom

Odaily Planet Daily 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 Bitcoin. According to company disclosures, the Bitcoin available for sale 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 structural buy-side support created through financial engineering for granted. Until its capital strategy becomes clearer, institutional investors may continue to remain on the sidelines.

However, BIT stated that Strategy's selling behavior has not changed its assessment of 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.