Bitcoin Drops Below $71K After Strategy Sells 32 BTC for $2.5M

Bitcoin fell below $71,000 after Strategy sold 32 bitcoin for $2.5 million, the first such sale in its history beyond tax loss harvesting. The move, disclosed in an SEC filing, marks a shift from Saylor's long-standing claim that Strategy would never sell bitcoin. Strategy still holds 843,706 bitcoin, the largest corporate stash globally. Proceeds were reinvested into STRC perpetual preferred stock, which pays variable yields to investors. On-chain data from Arkham Intelligence shows over 400 BTC moved to Coinbase Prime Friday, signaling prior activity. Strategy previously sold bitcoin in December 2022 for tax loss harvesting, indicating a history of strategic sales.