Michael Saylor's strategy sells Bitcoin
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The company recently unveiled a framework outlining multiple reasons it may sell some of its cryptocurrency holdings.
Peter Schiff accused Michael Saylor of "committing fraud." Schiff argued Strategy's recent Bitcoin sales could accelerate a market downturn. Grayscale disagreed with Schiff's bearish view.
Strategy sold Bitcoin to cover dividend payments, with Grayscale saying the move could support a durable Bitcoin price bottom.
The moves are aimed at stemming the loss of confidence in Michael Saylor’s crypto-hoarding company.
The Bitcoin treasury giant sold $216 million worth of Bitcoin to cover preferred payouts, as an $8.3 billion quarterly loss piled up.
These companies each get a lot of attention, but for completely different reasons.
MicroStrategy (MSTR) stock jumps as it boosts liquidity via USD reserves, dividend changes, buybacks and bitcoin monetization.
Shares of Strategy, the bitcoin-accumulation firm founded by Michael Saylor, are on pace for their lowest close in more than two years. The stock fell 4.7% Tuesday afternoon and is down more than 30% this year.
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The Strategy’s move to a non-diversified mandate gives us greater flexibility to manage risk and express our highest-conviction views. Read more here.+
Amid a rout in Bitcoin, Strategy Inc. made some moves to shore up liquidity.
