Jiang Zhuoer: The 20,000 BTC approved for sale by Strategy are very likely to be sold in full

BlockBeats news, on July 6, Jiang Zhuoer, founder of B.TOP mining pool, posted that Strategy has sold 3,588 BTC, gaining $216 million. This is the first time Strategy has made a significant sale of BTC, and it was done proactively, even though it holds $2.55 billion in cash reserves—enough to pay 17.6 months of interest—by selling BTC in excess of its interest payment needs.

This move means that the narrative of “Strategy never sells coins” has been broken. The reason for Strategy's large-scale coin sale is unclear; even if it lacks USD, it could continue to raise funds by issuing common shares. Although this would cause the number of coins per share to decrease, Jiang believes that maintaining the narrative and belief of “not selling coins” is obviously more important than the per-share coin quantity.

If Strategy does not buy back coins at lower prices after selling in large quantities, the number of coins per share will also decrease. Jiang sees Strategy’s willingness to accept this outcome as evidence it is preparing to actively trade BTC in large volumes.

Jiang Zhuoer further stated that the 20,000 BTC previously approved for sale by the shareholders meeting will most likely all be sold. He believes that in the later stage of the bull market, the market may witness the selling off of tens of thousands of BTC by a single entity holding hundreds of thousands of BTC.