Strategy: Selling coins to pay off debt makes the HODL believers' hearts skip a beat. The 840k coins still in stock, but the signal of tight cash flow is more glaring than those 32 coins.

Strategy sold Bitcoin for the first time in three years; 32 coins were executed at an average price of $77,135, raising approximately $25 million to repay STRC financing dividends. This move reflects tight cash reserves and the pressure to cover preferred dividend obligations, even though coin sales have occurred historically, it is seen as a signal to undermine market confidence in holding coins. After the sale, it still holds approximately 843.7k BTC, with a cost basis of about $75.7k per coin and an unrealized loss of approximately $293 million. Polymarket’s prediction fiasco exposed the limitations of market rules in interpreting “facts,” and prompted a reassessment of BTC’s safe-haven attributes.