Arca blames Strategy’s BTC sale for crash
Arca’s Chief Investment Officer argued that the sale of 32 BTC by Strategy signaled the firm may need to sell more to meet its preferred share dividend obligations.
The selling pressure last week was due to the Strategy news, with bitcoin falling nearly 14% to $60,000.
Strategy still holds 845,256 BTC worth billions of dollars, and had previously attributed the sharp slide to AI infrastructure spending absorbing capital at historic scale.