Tough Reaction to Strategy BTC Sales Postpones Bounce in Majors, PURR Records $450M in Daily Volume
Jun 1, 2026
Strategy Confirms BTC Sales, Market Reaction Disappoints: On Friday, we discussed on-chain evidence suggesting that Strategy was likely selling BTC after moving 411 BTC to Coinbase Prime. Today's 8-K confirmed that Strategy did indeed sell BTC, though the amount sold was much smaller than many had anticipated at just ~$2.5M. The company also sold roughly $128M of MSTR common stock, with proceeds from both transactions directed toward replenishing the USD reserve. Despite the relatively small size of the BTC sale,...
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