MicroStrategy Sells $2.5M in Bitcoin as ETFs Shed $3.5B
MSTR•MicroStrategy sold approximately $2.5 million of Bitcoin from its $59 billion holdings—the firm’s first token sale since late 2022—while US spot Bitcoin ETFs recorded net outflows of $3.5 billion over 11 days, driving BTC down to around $69,500. The sell-off highlights heightened risk aversion which could pressure MicroStrategy’s crypto-backed valuation.
1. First Bitcoin Sale Since Late 2022
MicroStrategy disclosed the disposal of $2.5 million of Bitcoin from its $59 billion treasury—the first sale since late 2022—marking a shift from its long-standing accumulation strategy.
2. Spot Bitcoin ETFs Log $3.5B Net Outflows
US spot Bitcoin ETFs experienced record net outflows of $3.5 billion over 11 consecutive days, coinciding with Bitcoin’s drop below $70,000 and indicating broad risk-off sentiment among institutional investors.
3. Crypto Market Volatility and Valuation Impact
The combination of MicroStrategy’s token sale and significant ETF withdrawals contributed to a 3% intraday Bitcoin decline to around $69,500, potentially undermining confidence in MicroStrategy’s crypto-driven business model.
