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Crypto

Wall Street sees low chance of Strategy forced bitcoin sale, keeps buy rating

Major Wall Street brokerages assessed market concerns about a forced bitcoin sale by Strategy as unlikely. Benchmark and TD Cowen said in reports they see a low chance the company would be compelled to sell bitcoin and maintained their existing buy ratings. Analysts pointed to cash-like assets set aside for preferred dividend payments and the lack of near-term redemption pressure for STRC perpetual preferred shares. TD Cowen also said Strategy’s bitcoin treasury strategy requires at least a mild upward price trend over the long term.

Crypto

SpaceX joins race as U.S. listed firms net buy 43,557 bitcoin in May

A competition among listed companies to hold bitcoin on their balance sheets continued in May, with firms sustaining large purchases despite bitcoin trading about 42 percent below its record high. Based on a BitcoinTreasuries.net corporate adoption report, listed firms added or newly disclosed 51,045 BTC in May, with net growth of 43,557 BTC after sales. The value was about $3.2 billion at the May 31 close. Strategy bought the most, while SpaceX drew attention by disclosing 18,712 BTC ahead of a planned IPO on June 12.

Crypto

Strategy CEO says it will sell bitcoin if needed; recent sale was to test market

Strategy addressed its first bitcoin sale since 2022, saying it was a signal to the market and a test of internal processes, not a change in its holding strategy. The company sold 32 bitcoin for about $2.5 million and said it aimed to prove it could sell if needed, verify systems and realise tax losses. It also bought additional bitcoin during and after the sale period and said the move was not driven by financial pressure.