Strategy is now selling Bitcoin. Again.
Allegedly this is not because they have lost faith in Bitcoin. The company still describes Bitcoin as its long-term treasury asset and is planning to buy more... later. Whatever they say, for the first time since it started accumulating coins, Strategy is regularly reducing its position instead of adding to it.
For years, investors could think of Strategy as one of Bitcoin’s most reliable sources of demand. That assumption no longer looks as straightforward.
But what does that means for Bitcoin going forward. Is this simply a footnote in Strategy’s history or does it change the way we should think about Bitcoin’s market structure?
That’s what we’ll look at today.
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