The news of MicroStrategy selling BTC just caused the market to drop, and a line that was looking good took a direct hit.

STRATEGY SELLS 3,588 BTC OVER PAST WEEK.
Last week, they sold 3,588 BTC, cashing out $216 million. Let's calculate the average price — $216 million divided by 3,588 is approximately $60,002. MicroStrategy's current cost basis is $75,699. The last time they sold 32 BTC, it was above their cost basis, but this time it's a real loss.
The monthly dividend on preferred shares is a fixed $80-90 million, and $216 million covers just over two months' worth.
However, this isn't too unexpected a bearish factor, since on June 29, they authorized a $1.25 billion BTC monetization plan (up to about 20,800 BTC, or 2.5% of holdings).
But the fact that they used 17% of that quota in just the first week worries me. I hope they don't use up the entire quota in 6 weeks and then come back with an expanded authorization 🤣🤣.
Of course, this is good news for $STRC — the dip around 70+ is likely the bottom for this round. The company's own $1 billion authorization forms an implicit buy wall below, combined with the 12% coupon, making it hard to fall further.
But it's unrealistic to expect a direct rebound to the anchor. I'll probably have to wait for $BTC to return to the main upward wave before it can fully recover and exit the position. Patience is key 😅😅.
In terms of quantity, 3,588 BTC is only 0.4% of their 840k BTC holdings, which is really not much. But the issue is whether this is a one-time sale or will become a recurring pattern. If they sell every month or two to pay dividends, then it will be hard for $BTC to rise — one pure buyer is gone, replaced by a pure seller, and that changes the dynamics... sigh.
Going forward, I'll keep an eye on two things:
👉 The scale and frequency of BTC sales
👉 Whether the other 198 DAT companies will follow suit with similar moves (which would increase selling pressure).