Strategy's BTC Sale Tests the Inoculation Plan as Market Reacts
Strategy sold 32 BTC for about $2.5 million and used $2 billion from STRC to buy 24,869 BTC, draining cash ahead of a monthly dividend. The move breaks the long-running “never sell” narrative, sparks concerns of a structural crack in Strategy’s Bitcoin yield flywheel, and coincides with STRC depegging and about $1.76 billion in liquidations as BTC trades near the mid-$60k range. Analysts split: some see it as balance-sheet leverage friction rather than a death spiral, while others see potential for further equity raises or dividend tweaks and possible more BTC sales. The path forward remains uncertain amid volatile price action and shifting institutional dynamics.
