Strategy sells 3,588 BTC for $216M, briefly pressuring Bitcoin before a rebound

Strategy sold 3,588 bitcoins last week, raising about $216 million in a rare episode of net selling that has prompted investors to reassess the near-term price impact of the firm's Bitcoin treasury approach, CoinDesk reported. U.S. Securities and Exchange Commission filings and the company's public disclosures show the sales were executed in two tranches: 1,363 BTC sold by June 30, followed by 2,225 BTC sold between July 1 and July 5. The latter tranche carried an average selling price of $60,773. Following the transactions, Strategy's Bitcoin holdings fell to roughly 843,775 BTC, down from a recent peak near 847,363 BTC on June 22. Cash reserves climbed to more than $2.55 billion, which the company said will be used for dividend obligations and balance-sheet replenishment. Michael Saylor characterized the move as routine treasury management, aimed primarily at meeting dividend commitments tied to the firm's digital credit securities and boosting fiat reserves. The securities referenced include STRF, STRC, STRK, and STRD. The sales came shortly after Strategy introduced its Digital Credit Capital Framework on June 29, which formally authorizes the company to sell up to $1.25 billion in Bitcoin, giving it additional flexibility for future cash allocation. Market reaction was muted after an initial dip. Bitcoin briefly slid to $61,800 before rebounding to around $64,200. At the time cited in the report, Bitcoin was trading near $63,700, up about 1% on the day. Ethereum was around $1,790 and Solana near $82, with limited volatility across major crypto assets. Near-term attention is focused on whether Strategy continues selling and whether future selling levels could weigh on Bitcoin. The initial price action, though, was not widely read as a broader risk signal. Spot ETF flows continued to offer support: the report cited net inflows of $266 million for Bitcoin ETFs on Monday and $20 million for Ethereum ETFs over the same period. Separately, the article noted that Bernstein reiterated its $150,000 Bitcoin price target and said that despite first-half downside pressure, it still views the current market structure as bullish. This reflects an institutional opinion and is not a confirmed fact.