Strategies may sell up to $1.25 billion of bitcoin

[Dogedegen]

It was Luna at a time, followed by FTX, one capitulation event needs to unfold that's why I won't be surprised if it will happen via Micheal Saylor this time around..

I don't remember how exactly the price moves at that time. Is it after we're down 50% from ATH too, or is it earlier?

Anyway, I also think this is one of those bearish signal that will be used by social media to cook a new narrative. Hit your feels and whatnot. Trying to increase the fear index even higher.

Somegory is wrong to make this comparison, and I really dislike when people write stuff like this because it is completely wrong and it shows that the user has not even done a 5 minute conversation with ChatGPT. The situations with FTX and LUNA  have no similarity at all to the situation with Strategy. Strategy is not going to capitulate now, it would be quite wrong to claim that given their financial position. Strategy can survive 5 to 10 years easily, even if we end up in a long bear market. So the chance of this happening now is zero, let's not make up stuff and start learning to do basic research before we say something about any topic.

For narrative you may be mistaken, these events are usually signs of nearing a bottom. As sentiment is extreme fear and people overreact to even the smallest of news and events, then it is a sign of the bottom nearing. It could be just a few months way, nobody knows exactly when it is going to be in advance but the indicators are pointing that we are on that way.


For the question when it happened, I checked with ChatGPT for quick numbers. They may be a bit wrong but you get the general idea.

So the LUNA collapse started before Bitcoin was down 50%, but pushed it well past 50%.

Before FTX: about 70% below the ATH.
After FTX: about 77% below the ATH.

[Btcdeybodi]

I don't know why you are so concerned about Michael Saylor selling his/their bitcoins, he's not the first whale to sell his bitcoin after all. Perhaps, Michael Saylor was not part of those who liquidated the market when it got the ATH of $126k. Yes, Saylor was once an "anti-Bitcoin critics" before he later embraced Bitcoin. Even if he sells a huge amount of his bitcoins, it will only cause a big fall, but just like i said, it doesn't mean that the price won't recover again as you are speculating.

So was there another individual who was/is the loudest public voice for Bitcoin and by far the largest single holder of Bitcoin who sold his Bitcoin? What was his/her name?

As for whether BTC will ever get to its ATH again, that's getting harder and harder to believe since all of the major pillars of Bitcoin's support have fallen by the wayside. Nobody seriously thinks Bitcoin will become a mainstream way of paying for things, and Bitcoin has failed key financial support tests (e.g. being a hedge against gold, the markets, or USD).

And yes, losing major supporters like Saylor, Musk and Trump are examples of Bitcoin's momentum reversing, so its getting harder and harder to imagine what will counteract that loss of momentum.

It seems you have a misconception about bitcoin, it is not a hedge against gold neither a hedge against the stock market or the USD but rather it is a reliable hedge against inflation. Don't say that nobody sees bitcoin as a mainstream way of payments because that wasn't the idea behind its invention, it is an alternative to the fiat currency so don't make it sound as if bitcoin was created to replace fiats. We are in the bear season so anyone can say that the price of bitcoin won't get an ATH, it is understandable because of the season but never think that bitcoin won't create another ATH again before the next halving and bull season.

[legiteum]

It seems you have a misconception about bitcoin, it is not a hedge against gold neither a hedge against the stock market or the USD but rather it is a reliable hedge against inflation.

Are you seriously still trying to tell people that when it lost half of its value in the last year? Seriously?  

In the same time period where the stock market gained 40%? Seriously?

Gambling on horses is a better "hedge against inflation" than Bitcoin...

[tbct_mt2]

Are you seriously still trying to tell people that when it lost half of its value in the last year? Seriously?  

In the same time period where the stock market gained 40%? Seriously?

Gambling on horses is a better "hedge against inflation" than Bitcoin...

Value and price are different, what you said and tried to compare is price, not value.

Let's compare stock market and Bitcoin market, their prices again in a next Bitcoin market cycle and next bull run, or after one or two more cycles of Bitcoin market. Differences in ROIs among them will become clearer after years, cycles, not after several months.
https://casebitcoin.com/

[SPIDERMAN008]

It's news like this that will make weak hands panic and then sell. Microstrategy are on a selling spree and it's unfortunate that a big financial institution like them are dropping Bitcoin in huge numbers and even if it hasn't affected the market yet, we're supposed to be serng more dips pretty soon.

If all these big companies start selling Bitcoin, it is very natural that the market will be affected. The general public will follow  sell Bitcoin. The price of Bitcoin will continue to fall, and after this price falls, these big holders will take the opportunity. Maybe this is a strategy to manipulate the market. However, Bitcoin has been on dip for a long time. There is a fear that the price will fall further. But in reality, it is not possible to say what will actually happen. However, just as our common people have plans to invest in Bitcoin, those who do institutional holding may also have different plans. They are making decisions like them, but the general public should at least keep themselves calm now. If they have the ability to hold, then do not sell just because of emotions. But I personally think this dip will probably remain for a long time

[The Cryptovator]

The company said the bitcoin sale will be made from time to time. The sale this time will be used to bolster its cash reserve, which now stands at approximately $2.55 billion, while helping fund preferred stock dividends, interest payments and other corporate obligations.

You can read more on the links.

Bitcoin price is not reacting to this yet.
MSTR fell significantly recently before the news, but the price increased a bit today.

I noticed that small investors like us are afraid when Saylor wants to sell his Bitcoin holdings. Have you asked a question before being panicked? Why he has accumulated Bitcoin. Isn't it for sale when he has profits? But time is likely not favouring him; right now he needs cash for his business, and that would lead to selling his holdings when necessary even he is at loss.

I am really not concerned about that. Let him sell; someone else will accumulate that Bitcoin and will spread it through more investors. We are here to take advantage of the Bitcoin price. Consider total supply and circulation supply. Saylor can't control the market. Investors often panic, so we should exercise patience when considering investments in Bitcoin.

[SeriouslyGiveaway]

I noticed that small investors like us are afraid when Saylor wants to sell his Bitcoin holdings. Have you asked a question before being panicked? Why he has accumulated Bitcoin. Isn't it for sale when he has profits? But time is likely not favouring him; right now he needs cash for his business, and that would lead to selling his holdings when necessary even he is at loss.

People can feel fearful of effects from Strategy sellings in both bull market and bear market but likely their fear is bigger during a bear market. Because they perhaps have their own positions in temporary losses, and bear market is a psychological test and challenge with many people. They seem to have weaker hands and more sensitive psychology in bear market. Lastly, in a bear market, there will be more chance and risk of selling with loss from Strategy which possibly amplifies fearful effects on the market.

Clearly I agree with you that people should not believe in Saylor's sayings and expect that Strategy will never sell their bitcoins. Just matters of time, when they will sell their bitcoins and they actually did it already but maybe more sellings will come in the future. The first one is always a hardest one with either purchases or sales.

[CryptoBuds]

It seems you have a misconception about bitcoin, it is not a hedge against gold neither a hedge against the stock market or the USD but rather it is a reliable hedge against inflation.

Are you seriously still trying to tell people that when it lost half of its value in the last year? Seriously?  

In the same time period where the stock market gained 40%? Seriously?

Gambling on horses is a better "hedge against inflation" than Bitcoin...

Where were you when Bitcoin rose from $15k in 2022 to $126k in 2025?

Each asset class/market has its own cycle. We cannot expect Bitcoin to do nothing but go up forever without ever experiencing corrections or periods of decline.

Look at gold, same story. After peaking at $5,6k in January, the price of gold has now fallen below $4k. Does that mean gold is not an inflation hedge either?

[Btcdeybodi]

It seems you have a misconception about bitcoin, it is not a hedge against gold neither a hedge against the stock market or the USD but rather it is a reliable hedge against inflation.

Are you seriously still trying to tell people that when it lost half of its value in the last year? Seriously?  

In the same time period where the stock market gained 40%? Seriously?

Gambling on horses is a better "hedge against inflation" than Bitcoin...

I can see that you are just making a blind argument without a valid point so i wouldn't go further with this debate. So, in your shallow reasoning, when the price of bitcoin falls to half of its ATH you will say that it has lost its value right? the fall in the price of bitcoin doesn't affect its value, if you bought 100 bitcoins when the price was at $126k, it's still same 100 bitcoins you have now that the price has fallen below $60k. So, the stock market gaining by 40% over bitcoin is now a big deal to you, when Bitcoin outperformed the stock market and even gold where were you? in the prison, I guess

[legiteum]

Are you seriously still trying to tell people that when it lost half of its value in the last year? Seriously?  

In the same time period where the stock market gained 40%? Seriously?

Gambling on horses is a better "hedge against inflation" than Bitcoin...

Value and price are different, what you said and tried to compare is price, not value.

Most people are interested in this thing we use in the real word called, "money". You use it to trade for things that make your life better and more comfortable.

I get that some people don't care about money, but why would those people be interested in something that is a "hedge against inflation"? The only reason you'd want one of those is because you want... money.

Each asset class/market has its own cycle. We cannot expect Bitcoin to do nothing but go up forever without ever experiencing corrections or periods of decline.

You have no way of knowing that. Bitcoin may never go up again. It's dependent on the whims of the worldwide marketplace, not some kind of weather pattern.

Look at gold, same story. After peaking at $5,6k in January, the price of gold has now fallen below $4k. Does that mean gold is not an inflation hedge either?

Nope, and at this price it could fall in half and stay there for 30 more years. Or maybe it will become more popular and go up even further. But you do not know this.

the fall in the price of bitcoin doesn't affect its value, if you bought 100 bitcoins when the price was at $126k, it's still same 100 bitcoins you have now that the price has fallen below $60k.

Yes, but you can only trade your Bitcoin for about half of the real-world goods you could trade it for before. Half of the food, half of the car, half of the rent payment, half of the doctor's bill.

This is a pretty silly conversation, I must say. Your answer to your investment going down in value is, "who cares about money!". LOL

[BlackHatCoiner]

I would have stayed in the software market. MSTR could well have jumped on the AI bandwagon and their stock might be much higher without the danger of impending doom and prison sentences.

MicroStrategy was a company with valuation barely $1-2 billion, for over two decades. After simply deploying this aggressive Bitcoin strategy, they reached 100x what they were valuated for so many years. What did they do? They simply bought bitcoin.

The media brainwashes people to blame Saylor for "messing up" now that he's in a bear market. Everyone blames him for falling from $120 billion to $30 billion, but nobody talks how he managed to reach from $1 to $30 billion by simply stacking bitcoin.

[legiteum]

I would have stayed in the software market. MSTR could well have jumped on the AI bandwagon and their stock might be much higher without the danger of impending doom and prison sentences.

MicroStrategy was a company with valuation barely $1-2 billion, for over two decades. After simply deploying this aggressive Bitcoin strategy, they reached 100x what they were valuated for so many years. What did they do? They simply bought bitcoin.

The media brainwashes people to blame Saylor for "messing up" now that he's in a bear market. Everyone blames him for falling from $120 billion to $30 billion, but nobody talks how he managed to reach from $1 to $30 billion by simply stacking bitcoin.

If BTC dropped in price by another 20%--which very well might happen--then he'll be bankrupt with ZERO and probably facing serious charges.

I suspect that he is currently looking at his previous life as a very rich owner of a a perfectly normal small software company and wishing that he was back to that.

[Cookdata]

If all these big companies start selling Bitcoin, it is very natural that the market will be affected. The general public will follow  sell Bitcoin. The price of Bitcoin will continue to fall, and after this price falls, these big holders will take the opportunity. Maybe this is a strategy to manipulate the market. However, Bitcoin has been on dip for a long time. There is a fear that the price will fall further. But in reality, it is not possible to say what will actually happen. However, just as our common people have plans to invest in Bitcoin, those who do institutional holding may also have different plans. They are making decisions like them, but the general public should at least keep themselves calm now. If they have the ability to hold, then do not sell just because of emotions. But I personally think this dip will probably remain for a long time

Most often, the sellers are not even the long term holders, traders play between sentiment of the market, if they noticed that institutional investors are going to sell or if they sell some, they will flip their positions, those with long positions will turn short and vice versa, but holders don't care about this, they are not even concern with the market or what's happening, this involves other strategic investors that have millions invested in Bitcoin but don't have time to make noises.

You see this Saylor and Micheal group, that statement of selling Bitcoin was to boost confidence of STRC holders that if eventually the price fall, they are not going to offer more stock to dilute the market and raise money to buy Bitcoin or pay their dividend, the plan is to make them trust them that they can do anything to satisfy them. It doesn't make any sense to use billions to buy Bitcoin and offer to sell some at discount for some useless usd reserve, it's unlike him but you never can tell his main mission.

[lionheart78]

That they are looking at unwinding at $59k (today's price) is a insanely bearish sign for BTC in general. Saylor and his team would arguably be the foremost experts on BTC's price predictions, and they are unmistakably signaling that they see the price going DOWN and not recovering, perhaps forever.

Are they intentionally FUDing the market by what you are saying, "unmistakably signaling that they see the price going DOWN and not recovering, perhaps forever"?  It can be easily understood if they go that way because they have the fund and if ever this "signal" is understood and believe by many naive Bitcoin holders, then we can see these people selling their holdings, making BTC crash heavily due to the domino effect.  By then Strategies can scope Bitcoin at a very low price, probably even at sub $50k.

[GeorgeJohn]

Where were you when Bitcoin rose from $15k in 2022 to $126k in 2025?

You know quit well that the price interchanges, their is every tendency that price of Bitcoin will fall this year and get increased upper year..so the price is not stable and that's one thing so many of us doesn't know about Bitcoin...

Each asset class/market has its own cycle. We cannot expect Bitcoin to do nothing but go up forever without ever experiencing corrections or periods of decline.

Bitcoin can't constantly go up, the nature of bitcoin has been rising and falling, that has been the price of Bitcoin right from time, if we expect Bitcoin to keep on rising, that means we dont know too well about bitcoin.

Look at gold, same story. After peaking at $5,6k in January, the price of gold has now fallen below $4k. Does that mean gold is not an inflation hedge either?

A digital currencies prices doesn't remain consistent rising..it depreciate in price and also appreciate in price...that's one thing about bitcoin price....

[doomloop]

I would have stayed in the software market. MSTR could well have jumped on the AI bandwagon and their stock might be much higher without the danger of impending doom and prison sentences.

MicroStrategy was a company with valuation barely $1-2 billion, for over two decades. After simply deploying this aggressive Bitcoin strategy, they reached 100x what they were valuated for so many years. What did they do? They simply bought bitcoin.

The media brainwashes people to blame Saylor for "messing up" now that he's in a bear market. Everyone blames him for falling from $120 billion to $30 billion, but nobody talks how he managed to reach from $1 to $30 billion by simply stacking bitcoin.

That is the reality, and on top of that, they are already above the situation they faced and now looking to buy even more. They do not realize that this dudes strategy was the reason why this company grew to this size like you said.

I think the reality is that we should be looking at something that is wildly successful attempt at making a company worth more. And he is the owner, so he has the money and the valuation, dude basically made himself rich double, by both being a bitcoin owner AND getting a higher value company.

[Dogedegen]

Most often, the sellers are not even the long term holders, traders play between sentiment of the market, if they noticed that institutional investors are going to sell or if they sell some, they will flip their positions, those with long positions will turn short and vice versa, but holders don't care about this, they are not even concern with the market or what's happening, this involves other strategic investors that have millions invested in Bitcoin but don't have time to make noises.

You see this Saylor and Micheal group, that statement of selling Bitcoin was to boost confidence of STRC holders that if eventually the price fall, they are not going to offer more stock to dilute the market and raise money to buy Bitcoin or pay their dividend, the plan is to make them trust them that they can do anything to satisfy them. It doesn't make any sense to use billions to buy Bitcoin and offer to sell some at discount for some useless usd reserve, it's unlike him but you never can tell his main mission.

It is important to be able to make a difference between different types of market participants if one wants to draw any kind of conclusions that have a fair chance of being accurate, but many superficial ways of doing analysis do not do that. A lot of the people and entities that have exited in recent times through the ETFs are just a new breed of the same old market participant in Bitcoin that abandons its during a downturn. Many actually even realize their trading loss, having bought high when the situation was bullish and then out of fear realizing their loss. The only difference between them now and in the past is that in the past this was only done on a CEX, there was no ETF. Other than that there is nothing different. Because people that do not really care about Bitcoin would not care to register and use a CEX if they can avoid it. If the platform that they are already using for stocks and commodities offers them Bitcoin ETFs through which they can get exposure, they will use those and skip additional tests. After all they do not care about self-custody or having the real Bitcoin, so a CEX does not provide any benefits to such people.

So I should wait a little longer before buying the dip or what?

Nobody can say for certain, this will only be clear in hindsight. Make your own decisions, don't act only based on what others say.

[X-ray]

People over here has been calling that this is how it's gonna play out with Strategy yet there are still some people who prefer to believe that Saylor is a saint.

If not for the preferred stock with that massive dividend, Strategy won't be in this situation that forces them to sell and can easily hold through and prepare for another bullish cycle.

The high dividend yield they offer is the thing that destroy their whole legacy.

Now they need to increase cash reserve just to make sure people aren't scared to hold their preferred stock.

[Dogedegen]

People over here has been calling that this is how it's gonna play out with Strategy yet there are still some people who prefer to believe that Saylor is a saint.

If not for the preferred stock with that massive dividend, Strategy won't be in this situation that forces them to sell and can easily hold through and prepare for another bullish cycle.

The high dividend yield they offer is the thing that destroy their whole legacy.

Now they need to increase cash reserve just to make sure people aren't scared to hold their preferred stock.

We have to be fair when evaluating these things, I have said all of this across different threads. Some people are very biased anti Strategy and were against them at every point even when they were doing everything right, others are like how you said and biased in favor and see them as saint. Neither position is good, we should judge and analyze individual actions and their impacts. Strategy was actually amazing until they started with the dividend thing, actually that was a big mistake and was a sign of extreme greed in acquiring Bitcoin at the time when this happened.

I do not have the exact number now, maybe someone could find out but they had a lot of Bitcoin before they started with the massive dividends and only very little debt. Even at that point people criticized the debt but they were mistaken, this is why I say we have to be careful and accurate because we can't get to the truth of the things. The debt was at the best rates possible, it had very little obligations and could be refinanced in the future if needed so they were in a prefect position! I think it was more greed, but maybe they took a gamble on better price performance of Bitcoin and it has not worked out. If the price went up a lot they could buy back the obligations and have much more Bitcoin than when they started, but instead of that the market took the opposite turn. It is really bad where they are now, if they do not make moves to completely reduce the risk and really become a Bitcoin company then I will be against them as well. They could have avoided all of these problems..

[Rustam Meraj]

It is usual practice regularly to sell huge balance sheet of a company in calculated way to keep health of the company. While selling stocks or converting assets into cash might cause immediate reaction from retail traders, it is good way to keep strong cash flow and pay fixed duties, particularly for payouts and to settle long outstanding debts, requirement that is necessary for survival in the cycle game.

​I think that is important sign the spot price is not that much off, so this is easy for institutions in form of these orderly sales. Front running speculation typically is not sign of basic value changes of hidden asset but shorter term stock price ups and downs. Having good cash in corporation lowers risks in forced selling in future or selling quickly.