Microstrategy Sells Bitcoin Today, Breaking 'Never Sell' Promise

BTC-0.55%
According to Foresight News, Microstrategy (MSTR) sold Bitcoin today, breaking its previous commitment to never sell holdings, according to comments from Jianguo Cao, founder of Lebit mining pool. Cao noted that MSTR holds $2.55 billion in cash reserves, sufficient to cover 17.6 months of interest expenses, making the sale puzzling given no liquidity pressure. He stated that MSTR could have addressed any dollar needs through stock issuance instead. Cao suggested the move may indicate plans for trading strategies, with the approximately 20,000 BTC approved for sale by shareholders potentially being sold in tranches during the bull market phase.
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