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Jiang Zhuoer: Strategy's Approved Sale of 20,000 BTC Likely to be Fully Executed

AirdropBlackHole
On July 6, Jiang Zhuoer, founder of the B.TOP mining pool, stated that Strategy has sold 3,588 BTC, raising $216 million. This marks the first significant sale of BTC by Strategy, which has a cash reserve of $2.55 billion, sufficient to cover 17.6 months of interest payments, and has proactively sold more BTC than needed for interest payments. This action breaks the narrative that 'Strategy never sells coins.' The reasoning behind Strategy's current large-scale selling is unclear; even without dollars, they could continue financing through issuing common stock. Although this would lead to a decrease in the amount of BTC per share, they believe maintaining the 'not selling coins' narrative and faith is significantly more important than the BTC per share amount. If Strategy does not repurchase at a low point after a large sale, it would similarly lead to a decrease in BTC per share. Strategy is willing to pay this price, which can only be understood as preparing to use a large amount of BTC for swing trading. Jiang Zhuoer further stated that the 20,000 BTC approved by the shareholders will likely be fully sold. He believes that in the subsequent bull market phase, the market may witness an entity holding hundreds of thousands of BTC engaging in sales.
BTC0.41%
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YARONOGA001
· 9h ago
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