Saylor's Strategy sold bitcoin for the first time since 2022. These firms are still buying
MicroStrategy sold bitcoin for the first time since December 2022, breaking its accumulation streak after crypto markets peaked in October. While many treasury firms halted purchases or turned sellers due to falling prices, companies like Bitmine and Strive continue buying. The narrowing list of active buyers signals potential exhaustion in the corporate crypto treasury model, though some firms remain committed to long-term holdings.
Key takeaways
- 1MicroStrategy sold bitcoin for the first time since December 2022, offloading roughly $2.5 million worth after maintaining a streak that inspired the corporate crypto treasury model.
- 2Most digital asset treasury firms halted purchases or turned sellers since crypto markets peaked in October, with some stocks falling over 90% from peak values.
- 3Bitmine, Strive, and Metaplanet remain active buyers, with Bitmine accumulating over 338,000 ETH tokens worth roughly $665 million through May.
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Why it matters
MicroStrategy's sale signals potential exhaustion in the corporate treasury model that attracted Indian and global retail investors seeking exposure to institutional crypto demand. The narrowing list of active buyers amid falling prices could impact market sentiment and institutional adoption narratives that retail traders rely on for investment decisions.
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