[Digital Today reporter Yoonseo Lee] Strategy sold 3,588 bitcoins over the past week.

On July 7 local time, blockchain outlet The Crypto Basic reported the sale was effectively the first major disposal since December 2022, and the market is watching whether a rebound like the past could return.

Strategy, led by Michael Saylor (마이클 세일러), said it sold 3,588 BTC for about $216.0 million on the day. The company plans to use the proceeds to fund dividends on digital credit securities. The transaction combines a sale of 1,363 BTC and a sale of 2,225 BTC carried out on June 30. The average sale prices at the time were $59,256 per bitcoin and $60,773 per bitcoin, respectively.

The company sold 3,588 BTC over a week but recorded a realised loss of more than $55.44 million, as its average purchase price was $75,651 per bitcoin. In early June, Strategy also sold 32 BTC for about $2.47 million. The transaction then was small compared with this one.

Market focus is more on past cases than on the sale itself. A user on X, formerly Twitter, pointed to late 2022 as the last time Strategy sold bitcoin in a meaningful size. At the time, Strategy sold 704 BTC at about $16,500 each as part of a tax-loss strategy and secured about $11.8 million.

That transaction did not last long. Strategy soon bought back 810 BTC, effectively maintaining its long-term bitcoin strategy. The company did not make any notable large-scale sales after that until selling activity emerged this year.

The market is comparing the two periods because both were in a bear-market stretch. When it sold in December 2022, bitcoin traded near $16,400 and later rose to $126,200 in October 2025. That is a gain of more than 7.7 times from the low. Some traders therefore think history could repeat itself.

The recent sale also came after bitcoin fell about 50 percent from its all-time high. Bitcoin slid to around $58,000 and then rebounded, and it was trading at about $63,500. Some calculations suggest that if the same 7.7-times rise resumes, bitcoin could climb to about $484,800 from the current price level.

It is uncertain whether such a scenario will materialise. Based on a circulating supply of about 20.05 million BTC, bitcoin's market capitalisation would reach about $9.72 trillion. Strategy's latest sale was a decision for the company's fund management, but the market is watching whether it can be interpreted as a short-term supply-and-demand issue and also as a signal of a past bear-market bottom.