Bitcoin fell below $64,000 on Aug. 10 after rising as high as $65,416 earlier in the day, trimming its market capitalization from $1.3 trillion to $1.28 trillion in less than four hours. The pullback came as bitcoin treasury company Strategy disclosed that it sold 1,690 BTC between Aug. 3 and Aug. 9 at an average price of $64,262 for $108.6 million and used the proceeds to repurchase 1.15202 million STRC preferred shares. More than $47 million in long liquidations and over $12 million in short liquidations were recorded across the market in the past 24 hours. Strategy said it held 840,447 BTC after the sale at an average purchase price of $75,385, while CEO Phong Le said the company had reached record highs in dollar reserves and duration. Peter Schiff questioned the rationale for the STRC preferred-share buyback and for holding the company’s common stock.