A new market discussion around Strategy's STRC trading pointed to disclosed sales of 3,500 Bitcoin, while saying no new stock was issued and dividends continued to be paid.
Michael Saylor previously said STRC repurchases may be funded from sources beyond the USD Reserve, including proceeds from sales of MSTR and Bitcoin depending on market conditions. A later market discussion cited by BitcoinTreasuries.NET said Metaplanet's DylanLeclair argued the market only focused on the Bitcoin sales after Strategy's disclosure filing showed Saylor had sold 3,500 Bitcoin. He said that, in hindsight, this may be seen as one reason STRC traded strongly. The same discussion said Strategy did not issue new shares and that dividends were still being paid. Saylor had also said STRC would not be issued below $100, with the broader aim of keeping the instrument near that level while supporting liquidity, low volatility and standalone demand.