Key facts
- Strategy sold $104.7 million in Bitcoin at a loss.
- The sale was to fund preferred stock dividends and buybacks.
- This marks a shift from the company's previous 'never sell' stance.
- Hyperscale's CEO remains optimistic about navigating the bear market.
- Hyperscale still holds $61 million in Bitcoin.
Strategy has sold its Bitcoin holdings, offloading more than it acquired in the past week to generate cash flow. The company sold $104.7 million in Bitcoin at a loss to fund preferred stock dividends and buybacks, a move that deviates from its prior messaging of 'never sell.' Despite this sale, Strategy's CEO expressed optimism about navigating the current bear market. In a separate development, American Bitcoin reported a quarterly loss but still increased its Bitcoin holdings. Hyperscale, meanwhile, has trimmed its Bitcoin holdings but still retains $61 million worth of the cryptocurrency.