Strategy Sells 32 BTC for $2.5M

[Oshosondy]

I saw this on the news which I want us to discuss on this forum. Michael Saylor has said before that Strategy will sell bitcoin and he gave the reasons for that. He has sold the bitcoin. He sold 32 BTC for $2.5M at an average sale price of $77,135 per Bitcoin.

You can read about it on the news:
https://decrypt.co/369587/michael-saylors-bitcoin-treasury-firm-strategy-sells-32-btc-for-2-5m
https://cointelegraph.com/news/strategy-first-ever-bitcoin-sale-offloads-32-btc

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

But the amount sold is small compared to the amount they are buying.

[mindrust]

Isn't that very small compared to what they hold? Still though, It would make so many people nervous since most people think Saylor is an holder of the last resort, meanin he would buy forever without selling. But somehow, he sold some. Yes the amount is tiny but what if he is about to unload the rest soon? That would create lots of panic in the markets. Maybe he planned this all along. We don't know. I guess we will live and find out.

[Aanuoluwatofunmi]

I saw this on the news which I want us to discuss on this forum. Michael Saylor has said before that Strategy will sell bitcoin and he gave the reasons for that. He has sold the bitcoin. He sold 32 BTC for $2.5M at an average sale price of $77,135 per Bitcoin.

Well, I see that of recent, people have been creating threads about MicroStrategy holding and who will first land the 1 million Bitcoin investment asset between them and BlackRock, I'm surprising that he was selling at this time and not buying, but nevertheless, don't be surprised when you see him accumulating more after the Fall of the market than he sold this present time, because he strategies are mostly unpredictable.

[hmbdofficial]

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.
But the amount sold is small compared to the amount they are buying.

Yes I also noticed the red and recently fall on my exchange by about -3%, what I do think it the 32BTC that was sold isn’t that significant to cause that panic and downfall of the price, it’s could be the news speculation and other unnoticed whales also selling of their holdings. I’m not sure I am just thinking of the possibility.

[hd49728]

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

It's not the reason as the selling amount is very small but the reasons are something else, likely with psychological and emotional effects on people in the market. They possibly are fearful that after this selling, Strategy will do more sellings in coming hours, days or weeks and dump the Bitcoin market deeper. They are even fearful of domino effects from Strategy on other institutional investors.

But the amount sold is small compared to the amount they are buying.

Fear of more sellings from Strategy can be a reason, but it's natural as Strategy did not buy all bitcoins they have now with one purchase, so if they sell all their bitcoins, they will do it gradually too.

[Lucius]

In January 2022, with BTC down roughly 40%, Bloomberg asked Saylor whether Strategy would ever sell BTC. “Never. No. We’re not sellers. We’re only acquiring and holding BTC,” Saylor swore to Bloomberg. “That’s our strategy.”

A smart man knows it's stupid to say never, but he kept saying it for years even though he was obviously aware he was telling a lie. So although this news may have little impact on the price, it seems to me that Iran's announcement that it is cutting off all communication with the US and completely closing the Strait of Hormuz is the real reason.

[Fivestar4everMVP]

I saw this on the news which I want us to discuss on this forum. Michael Saylor has said before that Strategy will sell bitcoin and he gave the reasons for that. He has sold the bitcoin. He sold 32 BTC for $2.5M at an average sale price of $77,135 per Bitcoin.

You can read about it on the news:
https://decrypt.co/369587/michael-saylors-bitcoin-treasury-firm-strategy-sells-32-btc-for-2-5m
https://cointelegraph.com/news/strategy-first-ever-bitcoin-sale-offloads-32-btc

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

But the amount sold is small compared to the amount they are buying.

I saw this news several hours ago on x and thought about sharing it here, but on a second thought, I concluded it wasn't relevant, but right now, I am glad you thought it wise to share the news here for the bitcoin community to take note of, since I believe that it's not very many of us that actually leave this forum or visit other media platforms to find out what is happening.

I do not know what the bitcoin community here will think but for me personally, I feel absolutely indifferent about saylor selling some bitcoin for whatever his reason may be, who ever bought bitcoin with their hard earned money is everly free to sell at any time he or she wants, whether it be for profit or for loss, it is their property and this is one of the freedom bitcoin offers, so whoever will want to judge or conderm Michael for selling bitcoin is absolutely in the wrong.

[riscohen4]

Selling that much Bitcoin won't affect the market at all. But why would he sell? I thought he is practicing the DCA method to acquire Bitcoin. Here I was wrong. Seems he is not actually a holder of Bitcoin or maybe he has run into financial issues.
Since this is made public, it might cause others to panic sell.

 Market will likely fall down to $58,000. But it's also a time to actually acquire more Bitcoin. But him selling his Bitcoin shouldn't affect anybody. This massive sell by Bitcoin has already being showing since that it was going to sell. If you can read the charts a little bit, you would spot it.

[macson]

I thought they were selling more than that, but it turns out the amount was smaller than I imagined. But we don’t know what Strategy’s next move will be, maybe they’ll sell off more to raise more cash? Or not? But it’s certain that Strategy’s decision to sell has left many people disappointed in them, because Saylor has repeatedly stated that he “never sells” and only accumulates Bitcoin. Yet the fact is they've already made sales, which means they could sell even more if needed, that’s what might affect the sentiment of those who've trusted them all along.

[BitMaxz]

Major reason? Nah... I don't think 32BTC could affect the BTC price much; it's just a small amount compared to trading volume during a bearish period.

I am more on technical but this isn't the reason why the price keeps falling.
Like I said before in a daily time frame, we are not bullish yet; all retracement levels are being filled based on the Fibonacci sequence. If we compared this to November to February, they would have similarities in price action.

I already gave some few analyses before with or without news. I know fundamentally the market can shift if there's good news fighting the Fibonacci sequence, but it's not, news also in the negative. No FOMO happens here.

[EL MOHA]

Yes I also noticed the red and recently fall on my exchange by about -3%, what I do think it the 32BTC that was sold isn’t that significant to cause that panic and downfall of the price, it’s could be the news speculation and other unnoticed whales also selling of their holdings. I’m not sure I am just thinking of the possibility.

Ideally a sale of 32 bitcoin in a day isn’t much of a sale to actually shake the market and even cause a 3% drop in a day like that. But the thing that will cause the market to actually be in panic will be the person or company selling. Some companies or institutions like Microstrategy are so big and attached to bitcoin that a move from them will be able to create either panic into market and actually causes a dip in price but this is not what happened, because this sell off has been announced already and wouldn’t causes panic into the market like that.
Before the day the bitcoin market was already up for this sales and the sale will not actually get to affect the market right now

[rdbase]

Major reason? Nah... I don't think 32BTC could affect the BTC price much; it's just a small amount compared to trading volume during a bearish period.

I am more on technical but this isn't the reason why the price keeps falling.
Like I said before in a daily time frame, we are not bullish yet; all retracement levels are being filled based on the Fibonacci sequence. If we compared this to November to February, they would have similarities in price action.

I already gave some few analyses before with or without news. I know fundamentally the market can shift if there's good news fighting the Fibonacci sequence, but it's not, news also in the negative. No FOMO happens here.

Just the thought of somebody like Saylor selling bitcoin in the range of millions of dollars worth would spook others into selling theirs. But from all the technical analysis terminology you have described above, you can also come to the conclusion that those bitcoins are being sold on an exchange and his company could be buying them back on the over-the-counter market (OTC).
Then the price would not increase if he did buy them back at a significant discount.
Wouldn't you think that was their strategic plan since the thought of selling in the first place?

[ultrloa]

Isn't that very small compared to what they hold? Still though, It would make so many people nervous since most people think Saylor is an holder of the last resort, meanin he would buy forever without selling. But somehow, he sold some. Yes the amount is tiny but what if he is about to unload the rest soon? That would create lots of panic in the markets. Maybe he planned this all along. We don't know. I guess we will live and find out.

Yes its more smaller than their holdings also with those accumulations they have done.

But who knows maybe this is just the start of their selling. That $2.5m is for the testing the waters to see how people react regarding on those sales they made.

After that situation happen for sure that people are now speculating about their next potential selling. This situation indicates that they are maybe thinking about selling those Bitcoins they acquired before to secure their profit and settle their current obligations to pay dividends to their people..

[Donneski]

This is one concern I've always raised about the huge accumulations of MicroStrategy. There's no way a company with such influence in the market will make announcements of either buying or selling that the market won't react. 32 BTC isn't a big number if we're being honest but since the news headline will read "Strategy sold Bitcoin" it's very normal that the market will react.

[MarryWithBTC]

Major reason? Nah... I don't think 32BTC could affect the BTC price much; it's just a small amount compared to trading volume during a bearish period.

I do not contest your technical analysis, but I want you to understand that 32 BTC can shift the market depending on who sold it and the manner they sold it. If an ordinary individual sold wey more than 32 BTC, it might not affect the market. But for the fact it's coming from Saylor will make it more dramatic.

Some people believe Saylor will not sell, when he starts selling, he is definitely seeing something we all are not seeing. So, this set of people will panic even if Saylor sold 1 BTC.

So, it is not all about the amount sold, but who sold it. I listened to Saylor's interview about the reason he would need to sell and I agreed with him. People don't need to panic because he sold.

[Satofan44]

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

No it is not, stop making up shit already. The world does not revolved around Strategy.  A lot of the users here are completely shitposting and think that the whole world of Bitcoin somehow revolves around Strategy, that is not how a mature market operates.

Isn't that very small compared to what they hold? Still though, It would make so many people nervous since most people think Saylor is an holder of the last resort, meanin he would buy forever without selling. But somehow, he sold some. Yes the amount is tiny but what if he is about to unload the rest soon? That would create lots of panic in the markets. Maybe he planned this all along. We don't know. I guess we will live and find out.

It is a meaningless amount to their total. Saylor is not a holder of last resort, they have repeatedly stated that they would sell Bitcoin if needed for various reasons -- maybe you have not been paying attention. When you create a leveraged bet against fiat in favor of Bitcoin, you have various obligations that you can't escape by pure idealism. While I can hold my Bitcoin until any price point or for any period of time, a company like Strategy can not.

In January 2022, with BTC down roughly 40%, Bloomberg asked Saylor whether Strategy would ever sell BTC. “Never. No. We’re not sellers. We’re only acquiring and holding BTC,” Saylor swore to Bloomberg. “That’s our strategy.”

A smart man knows it's stupid to say never, but he kept saying it for years even though he was obviously aware he was telling a lie. So although this news may have little impact on the price, it seems to me that Iran's announcement that it is cutting off all communication with the US and completely closing the Strait of Hormuz is the real reason.

You, like everyone else on this forum, is guilty of committing this error thousands of times in your life. Therefore, don't cast stones at something that you yourself do regularly, or have done regularly. The mistake was done, yet it is purely human and a most common kind of mistake.

I do not contest your technical analysis, but I want you to understand that 32 BTC can shift the market depending on who sold it and the manner they sold it. If an ordinary individual sold wey more than 32 BTC, it might not affect the market. But for the fact it's coming from Saylor will make it more dramatic.

Some people believe Saylor will not sell, when he starts selling, he is definitely seeing something we all are not seeing. So, this set of people will panic even if Saylor sold 1 BTC.

So, it is not all about the amount sold, but who sold it. I listened to Saylor's interview about the reason he would need to sell and I agreed with him. People don't need to panic because he sold.

If people believe made up nonsense, they are retards. There is nothing more to it. It was announced wide and clear that they would sell, and whoever was not paying attention and is "dramatizing" a normal movement that is the error on the side of that individual.

[d5000]

My theory is that this is a test sale. They probably weren't in need to sell these 32 BTC, but they wanted to check how the market reacted. Because in the next years, they may run into situations where they'll have to sell 100, 1000, or 10,000 BTC sometimes.

That's also why they moved 411 coins back and forth.

But I agree with those that say that this 32 BTC are insignificant. The 411 BTC they originally moved would also still be insignificant. The daily trading volume is at 100,000+ BTC per day, and on a bearish day dozens of thousands of BTC are sold (i.e. sell orders "in excess" are added that are later executed).

And in the Bitcoin universe a "holder of last resort" makes absolutely no sense. This would roughly mean that all Bitcoin could eventually belong to a single entity. Bitcoin would not be longer decentralized. But the entity would also have no benefit at all.

I could understand the word "buyer of last resort". But Strategy buys much less in the deep Bitcoin winters than in bull markets and early bears. So they never were a buyer of last resort, nor will they ever be (probably), because their liquidity to buy Bitcoins increases in bullish phases when their bonds look more attractive (for long positions).

[pooya87]

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

That's the weak hands we are familiar with, who are reacting to FUD on the internet. They panic sell their precious bitcoins when they heard someone has sold $2.5 million worth of coins in a market with a daily trading volume of $44000 million (according to coinmarketcap.com)

In any case I hope these centralized companies continue selling more of their bitcoins. No single entity should ever own large amounts of bitcoin and selling 32BTC is nothing so far, it is like 0.004% of what they own in total (840k BTC total). They should sell more.

[Don Pedro Dinero]

I noticed bitcoin price and the crypto market are in red right now. I think this is one of the major reasons for the fall in few hours ago till now.

It's not the reason as the selling amount is very small but the reasons are something else, likely with psychological and emotional effects on people in the market. They possibly are fearful that after this selling, Strategy will do more sellings in coming hours, days or weeks and dump the Bitcoin market deeper. They are even fearful of domino effects from Strategy on other institutional investors.

That’s right: potential future sales, and the fact that more and more people are questioning both Michael Saylor – who says one thing today and the opposite tomorrow – and his business model.

A smart man knows it's stupid to say never, but he kept saying it for years even though he was obviously aware he was telling a lie. So although this news may have little impact on the price, it seems to me that Iran's announcement that it is cutting off all communication with the US and completely closing the Strait of Hormuz is the real reason.

The real reason for the drop in price? Normally, when a geopolitical event like this occurs, it affects all markets, but that hasn’t been the case here. Yesterday, the S&P 500 and the Nasdaq 100 hit new highs again, whilst Bitcoin fell and looks set to drop below $70K; so it seems there is something more specific affecting Bitcoin, and in this case I do think it is more plausible that it is the fear that Strategy will start selling Bitcoin, in much larger quantities than the symbolic sale this time.

In any case I hope these centralized companies continue selling more of their bitcoins. No single entity should ever own large amounts of bitcoin and selling 32BTC is nothing so far, it is like 0.004% of what they own in total (840k BTC total). They should sell more.

I agree. I think Michael Saylor did a good job years ago in popularising Bitcoin, but he has since gone on to try to convince the world that the best way Bitcoin can work is for him to buy large quantities of it and for people to buy his synthetic products from him. No P2P, no cold storage, nothing of what bitcoin was designed for. So, I also hope that those centralised entities sell more, but I hope it doesn’t happen in a very forced way or that companies start going bust, particularly the hundreds of firms that have tried to emulate Michael Saylor, which could lead to a price collapse.

[SilverCryptoBullet]

That's the weak hands we are familiar with, who are reacting to FUD on the internet. They panic sell their precious bitcoins when they heard someone has sold $2.5 million worth of coins in a market with a daily trading volume of $44000 million (according to coinmarketcap.com)

In any case I hope these centralized companies continue selling more of their bitcoins. No single entity should ever own large amounts of bitcoin and selling 32BTC is nothing so far, it is like 0.004% of what they own in total (840k BTC total). They should sell more.

With experienced people in the market, they don't react panic like this, and even lack of experience in the market, people who have good personality with carefulness to do research before starting their investment, and discipline to keep up their initial investment plan, they have less possibility of panic sell.

With people who did not prepare knowledge, and don't have good personality for long term investment, most of them will panic sell especially if they joined with FOMO.
If they already did panic sell, it's time to sit down, read and learn as preparation for their comebacks because even without reading and learning, I am sure they will return to the market.
Psychological pitfalls of market cycle.