Bitcoin fell to its lowest level since July 9, dropping about 3.1% to around $62,700 after Strategy, the largest institutional bitcoin holder, announced plans to sell up to $5 billion of its bitcoin holdings. This move follows Strategy's slightly below-expectation quarterly revenue report of $122.4 million. CEO Phong Le stated the sale aims to boost cash reserves and potentially fund stock buybacks. Strategy's founder Michael Saylor indicated the sale amount could be larger, while the company's shares have declined significantly this year. This sale signals a cautious approach amid market volatility and investor concerns about Strategy's capital structure.
MicroStrategy posted a $8.22 billion net loss in Q2 2026, driven mainly by an $8.32 billion unrealized loss on its Bitcoin holdings amid falling Bitcoin prices. Despite the loss, revenue rose 6.9% to $122.4 million, slightly missing expectations. The...
Crypto stocks MicroStrategy (MSTR), Circle (CRCL), and Coinbase (COIN) are showing soft, sideways trading as investors await their upcoming earnings reports—MSTR and COIN report on Thursday, while CRCL reports on August 5. The market is cautious, wit...
