Michael Saylor's Strategy Is Selling Bitcoin Again. Here's Why I'm Still Bullish on Bitcoin.

Right now, Michael Saylor's Strategy (NASDAQ: MSTR) holds 840,447 BTC, or roughly 4% of all Bitcoin (CRYPTO: BTC) in circulation. That makes Strategy (the company formerly known as MicroStrategy) the largest corporate holder of Bitcoin in the world.That's why investors are justifiably concerned about the company's recent Bitcoin sales. Strategy just sold another 1,690 BTC, worth over $100 million. Several times this summer, the company has sold Bitcoin. What's going on here, and what does it mean for Bitcoin going forward?This may be oversimplifying things, but when the biggest Bitcoin cheerleader on the planet starts dumping Bitcoin, you know there's a problem. It all started on May 26, when Strategy sold 32 BTC to "inoculate the market." The idea was to get the market used to the idea that the company might be selling Bitcoin in the future, and it didn't want investors to panic.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool