A 32-bitcoin sale generating $2.5 million marks a shift as preferred stock obligations mount.
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Things end with a whimper, not a bang, T.S. Eliot theorized in his 1925 poem “The Hollow Men,” a bleak assessment of life after the first world war. Bitcoin ongoing decline, and 40% slump from the heady heights of its late October record, might be undergoing a similar evolution, losing its luster to one of the biggest tech rallies on record and suffering some big name exits as it reaches the lowest levels since early April. Mark Cuban, the billionaire former “Shark Tank” regular and erstwhile critic of President Donald Trump, dumped nearly all his bitcoin holdings late last month, saying the original digital currency has “lost the plot.”
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Michael Saylor had one message about Bitcoin: never sell. He turned Strategy (NASDAQ: MSTR), formerly MicroStrategy, into the largest corporate holder of Bitcoin in the public markets. Now that message just cracked. Between May 26 and May 31, Strategy sold 32 Bitcoin for roughly $2.5 million, ...
The world's top cryptocurrency will remain volatile this year.
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Market Catalysts Host Julie Hyman and Yahoo Finance Markets and Data Editor Jared Blikre track several of the day's top trending stock tickers, including Strategy (MSTR) stock taking a hit after selling $2.5 million worth of bitcoin (BTC-USD), IBM (IBM) stock jumping on a resurfaced video of President Trump praising IBM CEO Arvind Krishna, and Berkshire Hathaway (BRK-A, BRK-B) to acquire Taylor Morrison Home (TMHC) in a $6..8 billion deal.
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The Strategy founder recently signaled that the firm may sell some bitcoin this year.
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Strategy made its first BTC sale since 2022 as Bitcoin ETFs shed billions over the last two weeks, nudging the price down even lower.
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Shares of Strategy (NASDAQ:MSTR) are down 6% in early Monday trading, while Coinbase (NASDAQ:COIN) shares are off 5%. The selloff follows a weekend SEC filing showing Strategy executed its first Bitcoin sale since December 2022. MSTR stock is trading near $150 after closing Friday at $159.09, while COIN stock is hovering around $179.50 from a ... Strategy Slides 6%, Coinbase Drops 5% as Saylor’s First Bitcoin Sale in Nearly 4 Years Triggers Crypto Selloff
For the past two years, students and parents have been asking the same question: What should I study to avoid being replaced by artificial intelligence? It’s a fair concern. AI can now write reports, generate software code, analyze legal documents, create marketing campaigns, and even produce video content. Every new breakthrough seems to shrink the ... Jensen Huang Just Dropped a Bomb on ‘AI-Proof’ College Degrees: ‘It Won’t Matter’
Strategy, the bitcoin accumulation firm founded by Michael Saylor, said Monday that it sold 32 bitcoin last week for roughly $2.5 million, according to a regulatory filing. It was the company's first sale of the cryptocurrency since 2022. The company said it expects to use proceeds from the bitcoin sale to fund distributions on its preferred stock.
In Bitcoin news today, BTC crashed from $73,500 to a low of $71,500 on June 1 after news of US-Iran strikes hit the wires, triggering a violent risk-off flush across crypto derivatives markets. More than $400M in leveraged long positions were liquidated within a four-hour window, with Binance and OKX ...
In the last year, many NXP Semiconductors N.V. ( NASDAQ:NXPI ) insiders sold a substantial stake in the company which...