Key facts
- Michael Saylor sold Bitcoin for the first time in almost four years.
- MicroStrategy shares fell 6% following the sale.
- Coinbase shares dropped 5% amid the selloff.
- The sale triggered a wider cryptocurrency selloff.
- Bitcoin was trading below MicroStrategy's average purchase cost.
Michael Saylor's sale of Bitcoin, the first in nearly four years, has sent ripples through the crypto market, causing significant drops in MicroStrategy and Coinbase shares. This event occurs as Bitcoin's price hovers below MicroStrategy's average acquisition cost, adding a layer of concern for investors in both the cryptocurrency and related equities. The sale also comes after analyst CryptoTice projected a potential market bottom for Bitcoin in late 2026, based on historical cycle patterns.