Strategy's Bitcoin Sales Create Selling Pressure, BIT Maintains Bottom Assessment

In its latest On Target weekly report, BIT noted that Strategy (formerly MicroStrategy) is gradually selling off its Bitcoin holdings, despite previously being known for its "never sell" stance. The purpose of these sales is to replenish USD reserves, pay preferred stock dividends and interest, and repurchase digital credit securities. BIT believes that Strategy's ongoing sales will exert some selling pressure on the market, and the market can no longer take for granted the structural buying power created through financial engineering. Until capital strategies are further clarified, institutional investors may remain cautious. Nevertheless, BIT stated that Strategy's selling actions have not altered its expectations for Bitcoin's price trajectory, nor do they affect the previously set bottom target, but they may prompt other Bitcoin reserve companies and related shareholders to reassess their strategies.

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