Bitcoin miners surge as Strategy makes another sale

Michael Saylor's big Bitcoin move coincides with a jump in Bitcoin mining stocks.
Decrypt

Strategy Sells $216M in Bitcoin for Dividends Under 'BTC Monetization Program'

The Bitcoin treasury giant sold $216 million worth of Bitcoin to cover preferred payouts, as an $8.3 billion quarterly loss piled up.

Why Strategy, Inc. Plunged in June

Amid a rout in Bitcoin, Strategy Inc. made some moves to shore up liquidity.

Distressed Funds Explore Swap of Strategy Holdings Amid Rout

Distressed-debt funds that snapped up Strategy Inc.’s beaten-down preferred shares are in talks with one of the company’s bankers about swapping them for other securities, pitching it as a win-win as the relentless rout in crypto puts the Bitcoin accumulator in an increasingly tough spot.

Strategy’s Turnaround Plan Includes Stock Buyback, Bitcoin Sales and More Reserves

The moves are aimed at stemming the loss of confidence in Michael Saylor’s crypto-hoarding company.

Buying Time, or Why Strategy Stock Is Gaining After Unveiling a New Bitcoin Playbook

Citi Research maintains a Buy rating on Strategy stock while slashing its price target to $136 from $260.

Bye-bye ‘HODL’ — Strategy now has a plan to sell bitcoin to raise cash and buy its stock

Strategy disclosed a program to sell bitcoin “from time to time” to fund its U.S. dollar reserve and share repurchases.

Michael Saylor's Strategy's Situation Feels 'Eerily Similar' to FTX Collapse, Says Crypto Analyst: 'Rumors Create Doubt, Doubt Creates Selling…'

Cryptocurrency analyst Ali Martinez drew a parallel on Monday between the recent events surrounding Michael Saylor’s Strategy Inc. (NASDAQ:MSTR) and the 2022 collapse of cryptocurrency exchange FTX. Strategy And FTX: Similarities?