Strategy Sells $109M in Bitcoin For Second Week

Strategy just sold 1,690 Bitcoin worth roughly $109 million over the past week. This marks the second consecutive week of coin sales for the corporate treasury giant, following a sale of 1,638 Bitcoin the week prior.

The recent sell offs are part of the company's new Bitcoin monetization program. The initiative aims to build up cash reserves and fund dividend payments for shareholders. Company chairman Michael Saylor stated that the firm boosted its US dollar reserves by $650 million recently, while also buying back $109 million of its perpetual preferred stock.

These sales represent a notable shift for a company known for aggressive accumulation. Saylor previously encouraged individual investors to never sell their coins. He recently clarified that his famous advice applied to personal wallets rather than corporate balance sheets, noting that the business has always maintained the right to manage its capital.

Traders are now watching to see if these weekly sales will continue or if the firm will return to its usual buying habits. Keep an eye on the broader market reaction as this corporate giant manages its treasury strategy.