Key Insights
- •Bitcoin price tumbles below $92K.
- •This happens as Michael Saylor’s Strategy transfers $1 billion in BTC.
- •MSTR stock slips 1.50% to $185.
Michael Saylor’s Strategy moved another $1 billion in BTC from its holdings. As a result, Bitcoin price fell from $94K to $92K levels.
MSTR stock also saw an almost 1.50% drop during the premarket trading hours on Thursday, following a 3.89% increase on the previous day.
Michael Saylor’s Strategy Moving $1 Billion in Bitcoin Sparks Selloff Concern
Strategy (previously Microstrategy) wallet recorded 9 outflow transactions worth over $1 billion. The speculation of a potential selloff triggered a pullback in Bitcoin price.
However, Arkham data showed that the largest Bitcoin treasury transferred 11,642 BTC from its holdings to a Fidelity custody wallet.
Trading bots likely triggered a BTC selloff as total holdings in the primary wallet dropped to 43.28K BTC worth $40.08 billion.
Notably, Strategy has moved more than 177,351 BTC worth $16.5 billion from its wallet in 48 hours.
This makes the BTC no longer trackable on-chain as Fidelity combines it with other clients’ funds, on-chain experts claim.
This likely comes as the firm announced a plan to establish $1.44 billion USD reserve for dividend payments.
The risks of delisting from MSCI and Nasdaq 100 have triggered panic among investors.
MSTR Stock Falls Amid Outflows from Strategy Wallet
At the time of writing, MSTR stock fell more than 1.40% to $185. This signals negative sentiment among investors.
The drop coincided with a decline in US jobless claims. Experts claimed it marked a fourth consecutive drop, the lowest weekly level since September 2022.
MicroStrategy (MSTR) stock closed 3.89% higher at $188.39 on Wednesday. The 24-hour low and high were $184.02 and $186.94, respectively.
As per Google Finance, the YTD 2025 stock return has dropped by almost 40%. Strategy stock performance is impacted due to a 26% drop in Bitcoin price from its ATH.
JPMorgan says the company can avoid forced sales by keeping its enterprise value-to-Bitcoin holdings ratio above 1x. The mNAV currently stands at 1.13.
As The Coin Republic reported earlier, Michael Saylor’s Strategy has increased its total Bitcoin holdings to 650,000 BTC. The firm sits on unrealized gains of nearly $7.54 billion.
Bitcoin Price Falls Below $92K
BTC price was trading near $92,500 at the time of writing. The 24-hour low and high were $91,842 and $94,060, respectively.
Furthermore, trading volume decreased by 22% in the last 24 hours. This indicates a decline in interest among traders ahead of Friday’s crypto options expiry.
Meanwhile, CoinGlass data showcased selling in the derivatives market. At the time of writing, the total BTC futures open interest fell 0.17% in the past hour.
Total futures open interest tumbled nearly 1% to $60 billion in the last 24 hours. It signals negative sentiment among derivatives traders.
Analyst Ted Pillows pointed out that Bitcoin price has pumped before rate cuts and dumped after the last two FOMC meetings. Will a similar pattern occur again?
