- Michael Saylor’s Strategy registered an SEC filing for potential sale of its BTC holdings.
- The filing was then revealed as to be a periodical risk disclosure measure.
This past week has been centered around the USA’s worldwide tariff negotiations. While the crypto market took its biggest hit on Monday, it has spent the two days struggling to stage a rebound. However, at the time of the press, the market has not yet recovered. On a positive note, the US DOJ’s crypto crime unit was shut down yesterday.
On the other hand, Michael Saylor’s capital management firm, Strategy, caught market attention with a recent SEC filing. The firm has filed an 8-K form with the US regulator. This form is for Strategy to sell Bitcoin if the value depreciates further.
Michael Saylor’s Strategy has taken this measure because it has to repay its debts. The firm plans to do so by selling its Bitcoin holdings. Strategy currently holds 322. 198K BTC as per Arkham Intelligence data.
Subsequently and as expected, the filing caused several speculations to be raised in the market. Saylor is known for his advocacy of Bitcoin purchases despite significant dips. The firm’s resort to selling Bitcoin raised alarms in the market.
Is Michael Saylor’s Strategy Planning to Sell BTC Holdings?
On further inquiry, the 8-K form was discovered to be part of procedural activities carried out every year. It is a standard risk disclosure process that Strategy had carried out twice previously. In Q1 2024 and 2023 Michael Saylor’s firm had filed the same filing with the SEC as a protective measure.
This caused a wave of relief to sweep through investors. Strategy has played an important role in institutional investments over the past few years. The firm has been known to purchase Bitcoin at several lows and fluctuations and acts as a confidence boost for private investors.
Meanwhile, in the last 24 hours, Bitcoin has once again receded to the $76K level after its recent traverse to the $74K on April 6. Market analysts expect the cryptocurrency to hit a further low of $70K in the coming days before a potential rebound.
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