Bitwise: Strategy's $200 million BTC sale did not crash the market
- —Strategy sold over $200 million in BTC, price rose to about $64,000
- —The company authorized sales of up to $1.25 billion for dividends and reserves
- —Strategy holds more than 650,000 BTC, bought below the current price
- —Hougan estimated a 75% chance of exclusion from MSCI indexes
Why it matters: The market's ability to absorb large sales reduces forced-liquidation risk and weakens Strategy's influence on the BTC price.
Source: Crypto Briefing