Strategy Sells $216M Worth of Bitcoin but Price Holds Above $62K

Bitcoin price continues to hold steady above $62,000 despite corporate selling. Strategy, a major Bitcoin holder, sold 3,588 BTC between June 29 and July 5 for nearly $216 million at an average price of $60,201.

This sale led to a brief dip in the value below $62,000, but Bitcoin has since maintained itself above a key support level. The corporation still owns over 843,775 Bitcoins, acquired at an average price of $75,476, making it the largest public corporate holder of the cryptocurrency.

Strategy's assets are now valued at approximately $52.34 billion, resulting in an unrealized loss of nearly $11.5 billion. The sale is part of Strategy's previously announced $1.25 billion Bitcoin Monetization Program, with about $1.03 billion still available under that authorization.

Michael Saylor reinforced his long-standing view on Bitcoin's design, describing its hard consensus as its 'immune system' and emphasizing the collective responsibility of miners, node operators, developers, and holders in preventing potentially harmful protocol updates.