Michael Saylor’s Strategy might require selling Bitcoin (BTC) to meet debt obligations as the asset price continues to go down.
Strategy has reportedly filed an 8-K filing with plans to offload some of its digital assets to offset current losses after the price of Bitcoin dropped below $80k.
The company has 528,185 BTC valued at approximately $40.3 billion purchased at an average price of $67,458 per coin, resulting in $4.6 billion in paper losses.
Strategy remains a top driver of institutional sentiments, but with a pause in purchases and a significant drop in its stock price, several firms may reconsider their position.