Morning Minute is a daily newsletter written by Tyler Warner.
The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt
And check out our new daily news show covering all of the top stories in 5 minutes, downloadable on Apple Pod or Spotify. GM! Today’s top news: – Bitcoin bleeds after Saylors sells, falls another 3.7% to $69,300 – NEAR leads alts, jumping 17% on the day; WLD +12% – Major dispute over Polymarket’s “Will Strategy sell…” market currently resolving as NO – Pavel rebrands Toncoin as GRAM, token briefly pops 13% – Schwab targets 2027 for rollout of its spot crypto trading product 📉 Saylor Sells Bitcoin for First Time Since 2022 Strategy disclosed that it sold 32 BTC between May 26 and May 31 at an average price of $77,135, raising about $2.5 million.
So what? Well, it’s the company’s first Bitcoin sale since December 2022. And it comes after years of Saylor bullposting things like “Never sell your Bitcoin” or “Sell your kidney, but not your Bitcoin.” The proceeds will go directly toward funding distributions on STRC preferred stock, which Saylor now finds himself owing a boatload of thanks to STRC’s popularity.