Michael Saylor's strategy sells Bitcoin
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Strategy sold Bitcoin to cover dividend payments, with Grayscale saying the move could support a durable Bitcoin price bottom.
Amid a rout in Bitcoin, Strategy Inc. made some moves to shore up liquidity.
The Bitcoin treasury giant sold $216 million worth of Bitcoin to cover preferred payouts, as an $8.3 billion quarterly loss piled up.
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Strategy disclosed a program to sell bitcoin “from time to time” to fund its U.S. dollar reserve and share repurchases.
The company recently unveiled a framework outlining multiple reasons it may sell some of its cryptocurrency holdings.
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Peter Schiff accused Michael Saylor of "committing fraud." Schiff argued Strategy's recent Bitcoin sales could accelerate a market downturn. Grayscale disagreed with Schiff's bearish view.
