Speculation about another Bitcoin sale from MicroStrategy intensified after an unconfirmed cross-chain transfer showed that 491 BTC left a wallet linked to the company on July 1. Neither MicroStrategy nor its CEO, Michael Saylor, have confirmed any sale.
The rumor spread on Twitter on Friday. Meanwhile, Bitcoin (BTC) trading rose after July 1, indicating that the market digested the alleged deal easily.
Did Saylor sell more Bitcoin?
Trader with the pseudonym Lite It has been marked The transfer is worth about $30 million at current prices. This equates to just 0.058% of the 847,363 BTC strategy reported in its most recent report. second Reveal. The stack covers about 4% of Bitcoin’s 21 million supply.
The timing explains the interest. Approved strategy a Bitcoin monetization framework plan On June 29, it authorized up to $1.25 billion in tactical sales to fund dividends and buybacks. STRC’s 12% preferred dividend took effect on July 1, the same day as the alleged conversion.
The company also ended its operations First Bitcoin sale Since 2022 in late May, unloaded 32 bitcoins to cover preferred stock dividends. The only previous sale came in December 2022.
At the time, she sold 704 BTC for $11.8 million to capture tax losses, then bought back 810 BTC within days. It really was Rebuild its cash reserves This year with new purchases slowing.
“Michael Saylor’s strategy may have just sold 491 Bitcoin on July 1. The trade has not yet been confirmed, but if true, this will be one of the first signs that the strategy is lowering its position on Bitcoin after years of ‘never sell’ narratives…” Crypto Rover analyst Amplify Claim in a job.
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Bitcoin shrugs off sell-off speculation
Bitcoin showed a bit of tension. The coin opened at $61,492 on Friday, up 2.5% from Thursday, and has traded at $62,016 as of this writing, up 1.35% over the past 24 hours. With this, the leading cryptocurrency rose more than 7% from its lowest level recorded on July 1 at $57,800.
Strength follows June’s weak jobs report rather than Treasury headlines. And it stretches fragile Bitcoin price recovery After the worst month for prices in four years.
Reaction to X (Twitter) was divided between traders calling the amount a rounding error and others warning that frequent sales could dampen sentiment.
Calm contrasts with JPMorgan’s latest warning The new sales policy adds risks to the cryptocurrency market. However, a fully absorbed $30 million transfer indicates that demand currently outweighs these concerns.
Emphasis now lies on the strategy’s own disclosures. The company reported its May sale within days, so this week’s filing will show whether the transfer is a sale, a custody transfer, or an internal mix-up.
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