Strategy Sells $216 Million Worth of Bitcoin Amid Market Volatility

Strategy, a corporate buyer of Bitcoin, recently sold about $216 million worth of the cryptocurrency in a regulatory filing. This move comes after Strategy posted a $12.54 billion net loss in the first quarter of this year as the price of Bitcoin slumped.

The crypto market is notoriously volatile and hyper-sensitive to news cycles, from world events to regulatory shifts to viral tweets. According to Fidelity Viewpoints, cryptocurrencies have no cash flow and do not have the ability to pay dividends like stocks. They also lack industrial use like commodities such as gold and copper.

With so much volatility in the market, investors are left wondering whether it's worth buying the dip or if a Bitcoin bear is on the horizon. Buying the dip means purchasing crypto after its price temporarily drops, but this comes with significant risk.