By Kit Norton
Strategy, the largest corporate holder of Bitcoin, announced Monday it has been selling the cryptocurrency as prices have tumbled sharply from April 2025 highs.
The company formerly known as MicroStrategy disclosed Monday it sold 1,363 Bitcoin between June 29 and June 30 at an average price of $59,256 each, or $80.8 million in total, according to a regulatory filing. The company then sold 2,225 Bitcoin between July 1 and July 5, for a total of $135.2 million.
The transactions bring Strategy's total holdings to 843,775 Bitcoin acquired for roughly $75,476 a piece.
Shares of the software company-turned crypto whale fell 0.9% to $99.81 on Monday after closing on Thursday up 7.9%.
Among other cryptocurrency-related stocks, Robinhood Markets added 2.1% on Monday and Coinbase Global declined 0.4%.
The decision to sell Bitcoin comes as Strategy on June 29 unveiled a financial overhaul to stabilize its business and reassure investors.
Strategy stock had been moving higher before the regulatory disclosure after Chairman Michael Saylor posted to social media on Sunday a screenshot showing the company's history of Bitcoin purchases.
Write to Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.