BIT: Strategy's continued sale of Bitcoin brings some selling pressure, but it does not change Bitcoin's bottom judgment

Comparing news, BIT stated in the latest On Target weekly report that Strategy (formerly MicroStrategy) was known for “never selling” Bitcoin in the past, but is now gradually selling Bitcoin. According to the company's disclosure, it can sell Bitcoin to replenish US dollar reserves, pay dividends and interest on preferred shares, and buy back digital credit securities.

BIT believes that Strategy's continued sale of Bitcoin will put some selling pressure on the market, which also means that the market can no longer take its structured purchases formed through financial engineering for granted. Institutional investors will likely remain on the sidelines until capital strategies are further clarified.

However, BIT said that Strategy's selling behavior did not change its judgment on Bitcoin's expected trend, nor did it affect the bottom target previously set, but this change may prompt other Bitcoin reserve companies, especially relevant shareholders, to re-examine their own strategies.