CoinTelegraph
Strategy sold 3,588 BTC for $216 million, the largest single sale in the company's six-year history, to fund dividends on its preferred stock under a new program authorizing up to $1.25 billion in BTC sales. The company that built its identity on never selling is now a seller.
Why it matters
The sale landed in the same week spot Bitcoin ETFs finally saw real inflows: $221.7M in a single session snapped a 10-day, $2.73B outflow streak, with another $265.7M following the next trading day. Bitcoin reclaimed $64K as institutional bid returned. Yet the largest holder of corporate BTC is now actively distributing, a structural shift in who absorbs sell pressure.
Market impact
Strategy's preferred-stock-funded sales program means future BTC dispositions are tied to dividend obligations rather than treasury management alone. XRP flipped USDC to become the #5 crypto by market cap near $73B, BONK DAO was drained of ~$20M through a malicious governance proposal, and the CLARITY Act missed its July 4 target with the Senate now aiming for final text by August 7. Ripple separately secured a full MiCA license in Europe. The AI trade lifted Wall Street semis, with Bank of America flagging falling hyperscaler capex and exploding chipmaker cash flow.
Frequently asked questions
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Why did Strategy sell 3,588 BTC?
Strategy sold the BTC to fund dividends on its preferred stock under a new program authorizing up to $1.25 billion in BTC sales, the largest single sale in the company's six-year history.
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How much flowed back into spot Bitcoin ETFs this week?
Spot Bitcoin ETFs pulled in $221.7M in a single session to snap a 10-day, $2.73B outflow streak, with another $265.7M following the next trading day for roughly $487M total.
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What is the CLARITY Act's new timeline?
The CLARITY Act missed its July 4 signing target. The Senate now aims for final text by August 7, a delay that keeps crypto market-structure legislation pending rather than enacted.
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How was BONK DAO exploited?
BONK DAO was drained of approximately $20M through a malicious governance proposal, exploiting the fact that on-chain vote counts are only as secure as the voters participating.
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What did Bank of America say about the AI trade?
Bank of America flagged a generational shift in cash flow: falling at hyperscalers and exploding at chipmakers, framing the AI capex cycle as a divergence between platform spend and semiconductor earnings.
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