Bitcoin's Most Prominent Holder Is Selling Some. Should You?
Strategy's latest Bitcoin sale is rattling some of the coin's holders.
Overview
Strategy (NASDAQ: MSTR), the largest corporate holder of Bitcoin (CRYPTO: BTC), sold 3,588 Bitcoins for $216 million between June 29 and July 5, according to a July 6 disclosure. That was its biggest sale ever, and given that Bitcoin's price is near $62,000, it was executed well below the company's cost basis of $75,700. In other words, it just took a loss on its investment to pay a dividend for some of its classes of stock.
A month earlier, its founder, Michael Saylor, called a prior sale of just 32 Bitcoins an "inoculation" for the market. This was more than 100 times larger. So, does this mean that it's time for you to consider selling your coins as well?
Image source: Motley Fool.
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Originally published at www.fool.com.