Bitcoin's Most Prominent Holder Is Selling Some. Should You?
Yahoo Finance ·
Strategy ( MSTR 3.55% ) , the largest corporate holder of Bitcoin ( BTC 0.54% ) , 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? Strategy has a handful of different share types , each of which offers a different financial product based on its holdings of Bitcoin. Four of those instruments (STRF, STRK, STRD, and STRC) pay dividends in cash; the annual outlay is around $1.5 billion. For years, the company sold its common stock shares with the ticker MSTR at a premium and used the proceeds to buy more Bitcoin.
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