Strategy, the corporate vehicle formerly known as MicroStrategy, has executed another significant sale of its Bitcoin holdings, offloading approximately €216 million worth of the digital asset.
The transaction, reported by Handelsblatt, marks a continued departure from the company's historical stance as a steadfast accumulator and underscores the growing liquidity pressure on the world's largest cryptocurrency.
The sale comes as Strategy, led by Michael Saylor, has fundamentally restructured its Treasury operations to allow for broader liquidation of its Bitcoin reserves.
Previously, the company was defined by a strict 'never sell' doctrine, positioning itself as the ultimate long-term holder for institutional investors.
The shift to a model that permits regular sales has altered market dynamics, introducing a consistent source of sell-side pressure that traders must now factor into their positioning.
This latest move is part of a larger liquidation program.