Strategy sold 1,638 bitcoins this week to fund preferred dividend payments and stock repurchases, triggering an initial price decline that Bitcoin quickly recovered from. Meanwhile, the odds of the CLARITY Act passing slid to 27%, according to prediction markets.
The 1,638-coin sale
Strategy completed the sale as part of its capital management strategy, using bitcoin holdings to meet dividend obligations and buy back shares. The company did not disclose the exact price received, but the market reacted with a brief sell-off that pushed Bitcoin to an intraday low.
A quick recovery
Bitcoin bounced back within hours, trading back near the $64,000 level. The rapid rebound suggests the selling pressure was absorbed by buyers, and the market remains relatively stable despite the large transaction.
CLARITY Act odds slip
The CLARITY Act, a bill aimed at providing regulatory clarity for digital assets, saw its probability of passage drop to 27%. The decline comes amid ongoing legislative negotiations, though no specific reason for the shift was given.
