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

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 offloading Bitcoin. According to company disclosures, the Bitcoin it has 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 for granted the structural buying demand created through its financial engineering. Until its capital strategy becomes clearer, institutional investors may remain on the sidelines.

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