Strategy Sells Bitcoin for First Time, MSTR Drops 6%
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin ends May above $76,000, confirming a new bull market, per Tom Lee at Consensus 2026.link ›
- Bitmine has accumulated nearly $12 billion of Ether and will slow purchases as it nears its target.link ›
- Tokenization is highlighted by Tom Lee as a main narrative driving the next crypto bull cycle.link ›
- AI‑driven finance is named as a primary narrative for the upcoming bull market.link ›
- K Wave Media scrapped a $500 million Bitcoin treasury plan, redirecting $485 million to AI investments.link ›
- Morgan Stanley launches crypto trading on E*Trade, promising lower fees than Coinbase, Robinhood, and Schwab.link ›
- Berkshire Hathaway holds a record $397 billion in cash, its largest reserve ever.link ›
Strategy disclosed its first-ever sale of bitcoin from its corporate treasury, offloading 32 BTC at roughly $77,135 and breaking a long-standing no-sell stance, which sent MSTR shares down more than 6% in premarket trading.
The stories behind this week
Morgan Stanley launches crypto trading on E*TradeNot enough in the article to say why this matters.
Trump Announces US Navy Escort for Strait of HormuzNot enough in the article to say why this matters.
Berkshire Hathaway is now sitting on a record $397 billion in cash. And it’s not the only firm reluctant to invest in the stock market.Berkshire’s $397 billion cash reserve strengthens its buying power, while investors stay cautious; oil traders profit as crude climbs ~5% after Iran strike reports, deepening inflation pressure on Asian economies.
Coinbase Cuts 700 Jobs, Replaces Managers with CoachesCoinbase's 700‑employee (14%) layoff slashes payroll costs, while the player‑coach model gives engineers more autonomy, but raises turnover risk among senior staff, prompting investors to scrutinize execution.
Australia hikes rates again and warns inflation will stay higher for longerNot enough in the article to say why this matters.
McDonald's is about to report earnings. Here's what to expect - CNBCNot enough in the article to say why this matters.
Bitcoin ending May above $76,000 would confirm new bull market, Tom Lee saysBitcoin holders gain as a May close above $76k locks in a bull market, while Bitmine’s $12bn ETH accumulation slowdown redirects capital, likely bolstering Bitcoin’s price momentum.
K Wave Media scraps massive bitcoin treasury plan to redirect $485 million to AIK Wave Media's $485M AI infusion benefits AI firms and investors, while Bitcoin loses a major corporate treasury source, potentially dampening crypto demand as NASDAQ's AI‑driven rally continues.
Why it matters: Strategy had built its investment thesis and equity premium around a never-sell bitcoin stance, and the 6%+ MSTR premarket drop shows the market is repricing the precedent rather than the 32-BTC transaction size. With over 800,000 BTC still on the balance sheet financed partly by convertible notes, the sale demonstrates the company will tap its treasury for liquidity needs, weakening the 'permanent hold' narrative that had linked MSTR's stock to bitcoin's price.
