Strategy, the world's largest corporate Bitcoin treasury, announced the sale of 32 bitcoins for approximately $2.5 million this Monday (April 1st). This is the company's first sale since December 2022, when it dumped 704 coins.

Michael Saylor, who usually updates his followers on social media about new investments made by his company, remained silent about the sell-off.

Although the amount is small, the sale marks a shift in the company's philosophy, which had promised to "send a message" to the market.

Strategy Announces Sale of 32 Bitcoins

Strategy had already caught the market's attention last Thursday (March 28th) by sending about 411 bitcoins to the Coinbase exchange. However, on-chain data showed that the company received those coins back into its addresses shortly afterward.

Then, this Monday (April 1st), a filing with the SEC reveals that Strategy has indeed sold bitcoins for the second time in its history. The amount is 32 bitcoins.

On social media, Michael Saylor did not comment on the sale, but made a post highlighting the STRC preferred stock.

Strategy's Bitcoin Sale Is Small, But the Signal Could Be Big

Currently, Strategy holds 843,706 bitcoins in its treasury. In other words, the sale of 32 bitcoins represents only 0.0038% of the company's reserves.

Regardless, the liquidation sends a strong signal to the market that larger sales may occur in the future, spreading fear among other investors.

At the time of writing, Bitcoin is trading below $71,500, down 2.7% in the last 24 hours. This is the cryptocurrency's lowest price since April 13th.

Other cryptocurrencies are also following the decline. Notably, Ethereum is once again trading below $2,000, and BNB is down 6.3%.

In a statement made in May, Saylor said they might sell bitcoins, but would then buy 10 to 20 times more after doing so. Therefore, expectations are now focused on the announcement to be made next week.