Speculation about another Bitcoin sale from MicroStrategy intensified after an unconfirmed on-chain transfer showed 491 BTC leaving a company-linked wallet on July 1. Neither MicroStrategy nor its Executive Chairman, Michael Saylor, has confirmed any sale.
The rumor spread across X (Twitter) on Friday. Meanwhile, Bitcoin (BTC) traded higher after July 1, suggesting the market easily absorbed the alleged transaction.
Pseudonymous trader Light flagged the transfer, worth roughly $30 million at current prices. That equals just 0.058% of the 847,363 BTC Strategy reported in its latest SEC disclosure. The stack covers about 4% of bitcoin's 21 million coin supply.
The timing explains the attention. Strategy adopted a Bitcoin monetization framework plan on June 29, authorizing up to $1.25 billion in tactical sales to fund dividends and buybacks. Its raised 12% STRC preferred dividend took effect on July 1, the same day as the alleged transfer.
The company also completed its first Bitcoin sale since 2022 in late May, offloading 32 BTC to cover preferred stock dividends. Its only earlier sale came in December 2022.
The rumor spread across X (Twitter) on Friday. Meanwhile, Bitcoin (BTC) traded higher after July 1, suggesting the market easily absorbed the alleged transaction.
Pseudonymous trader Light flagged the transfer, worth roughly $30 million at current prices. That equals just 0.058% of the 847,363 BTC Strategy reported in its latest SEC disclosure. The stack covers about 4% of bitcoin's 21 million coin supply.
The timing explains the attention. Strategy adopted a Bitcoin monetization framework plan on June 29, authorizing up to $1.25 billion in tactical sales to fund dividends and buybacks. Its raised 12% STRC preferred dividend took effect on July 1, the same day as the alleged transfer.
The company also completed its first Bitcoin sale since 2022 in late May, offloading 32 BTC to cover preferred stock dividends. Its only earlier sale came in December 2022.
4 months ago
