Speculation about another Bitcoin sale from MicroStrategy intensified after an unconfirmed on-chain transfer showed 491 BTC leaving a company-linked wallet on July 1. Neither MicroStrategy nor its Executive Chairman, Michael Saylor, has confirmed any sale.

The rumor spread across X (Twitter) on Friday. Meanwhile, Bitcoin (BTC) traded higher after July 1, suggesting the market easily absorbed the alleged transaction.

Did Saylor Sell More Bitcoin?

Pseudonymous trader Light flagged the transfer, worth roughly $30 million at current prices. That equals just 0.058% of the 847,363 BTC Strategy reported in its latest SEC disclosure. The stack covers about 4% of bitcoin’s 21 million coin supply.

The timing explains the attention. Strategy adopted a Bitcoin monetization framework plan on June 29, authorizing up to $1.25 billion in tactical sales to fund dividends and buybacks. Its raised 12% STRC preferred dividend took effect on July 1, the same day as the alleged transfer.

The company also completed its first Bitcoin sale since 2022 in late May, offloading 32 BTC to cover preferred stock dividends. Its only earlier sale came in December 2022.

Back then, it sold 704 BTC for $11.8 million to harvest tax losses, then repurchased 810 BTC within days. It had already been rebuilding its cash reserves this year while slowing new purchases.

“Michael Saylor’s Strategy may have just sold 491 BTC on July 1st. The transaction hasn’t been confirmed yet, but if true, this would be one of the first signs of Strategy reducing its Bitcoin position after years of “never sell” narratives…” analyst Crypto Rover amplified the claim in a post.

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Bitcoin Shrugs Off the Sale Speculation

Bitcoin showed little stress. The coin opened at $61,492 on Friday, up 2.5% from Thursday, and traded for $62,016 as of this writing, up by 1.35% in the last 24 hours. With this, the pioneer crypto is up by over 7% from the July 1 low of $57,800.

The strength tracked a weak June jobs report rather than treasury headlines. It extends a fragile Bitcoin price recovery after the worst month for prices in four years.

Reactions on X (Twitter) split between traders calling the amount a rounding error and others warning repeated sales could sour sentiment.

The calm contrasts with JPMorgan’s recent warning that the new sales policy adds risk to the crypto market. Even so, a fully absorbed $30 million transfer suggests demand currently outweighs those concerns.

Confirmation now rests with Strategy’s own disclosures. The firm reported its May sale within days, so a filing this week would show whether the transfer was a sale, a custody move, or an internal shuffle.

Source: BeInCrypto