Strategy Shares Fall More Than 4% Premarket After $216 Million Bitcoin Sale
Minseung Kang
Summary
- Strategy shares fell more than 4% in premarket trading.
- Reports said Strategy sold part of its Bitcoin holdings and posted a large digital-asset loss in the second quarter.
- The sale of 3,588 BTC for $216 million was Strategy's largest Bitcoin sale since 2020 and the third Bitcoin sale in the company's history.
Forecast Trend Report by Period
Strategy shares fell more than 4% in premarket trading after reports that the company sold part of its Bitcoin holdings and booked a large digital-asset loss for the second quarter.
Crypto media outlet Odaily reported on July 6 that the stock was down more than 4% before the open.
Earlier in the day, Strategy Chairman Michael Saylor wrote on X, formerly Twitter, that the company sold 3,588 Bitcoin for $216 million to fund dividends on its digital credit securities.
Odaily said the transaction was Strategy's largest Bitcoin sale since it began buying the cryptocurrency in 2020. It was also the third Bitcoin sale in the company's history.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.