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Bitcoin Price Falls Below $62,000 as Strategy Sells $216M in BTC
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Strategy sold 3,588 Bitcoin for about $216 million to fund dividends on its Digital Credit securities. The company said it held 843,775 Bitcoin and $2.55 billion in U.S. dollar reserves as of July 5, while reporting an $8.31 billion unrealized second-quarter loss on digital assets. Following the disclosure, Bitcoin fell below $62,000, and the source said more than $78 million in long positions were liquidated. Investors will watch for further Bitcoin sales under Strategy’s remaining $1.034 billion monetization program.
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