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#StrategySells3588BTC
Strategy announced last week that it generated $216 million in revenue by selling 3,588 Bitcoin. Following the announcement, the Bitcoin price fell below $62,000. The company's unrealized Bitcoin losses currently exceed $11 billion.
After selling 32 BTC in recent weeks, Strategy made a much larger sale this time. The company sold 3,588 BTC worth $216 million last week. Following the sale, the company's total Bitcoin holdings fell to 843,755 units.
As of July 5th, the company's dollar reserves were at $2.55 billion. The announcement also stated that as of the second quarter, the company had an unrealized loss of $8.3 billion in Bitcoin holdings, and total current losses reached $11.4 billion.
The first and most direct comment regarding the sales came from company founder Michael Saylor. Saylor explained that the sales were made to facilitate dividend payments for "digital credit securities."
Strategy announced the sales in two separate filings with the SEC.
The first notification reported the sale of 2,225 BTC, and the second notification reported the sale of 1,363 BTC. Following the announcement, Bitcoin fell below $62,000. The BTC price is currently hovering around $62,200.
$BTC