Strategy Sold $2.5M in Bitcoin and the Market Acted Like Saylor Burned the Whole Treasury

The world's largest digital asset traded at approximately $77,300, up less than 1% over the previous 24 hours. (Credit: Unsplash)

Michael Saylor and Strategy sold 32 bitcoin between May 26 and May 31, hauling in about $2.5 million at an average of $77,135 a coin, disclosed in a June 1 8-K filing. That's roughly 0.004% of the company's 843,706 BTC hoard. A rounding error. A landlord cracking open a $62 billion piggy bank to cover a parking ticket.

The market did not care about the math and Bitcoin slid to a near two-month low around $71,000, MSTR fell about 5%, and by June 3 BTC was trading near $67,000. The number that moved was tiny. The thing it cracked was not.