Strategy Slides 6%, Coinbase Drops 5% as Saylor’s First Bitcoin Sale in Nearly 4 Years Triggers Crypto Selloff Quick Read – MicroStrategy (MSTR) sold 32 Bitcoin (BTC) for approximately $2.5 million, marking the company’s first BTC sale since December 2022, and the shares fell 6%…
around $150. – Coinbase (COIN) stock declined 5% to $179.50 as the company’s revenue depends on crypto trading volumes. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coinbase didn’t make the cut. Grab the names FREE today
Shares of Strategy (NASDAQ:MSTR) are down 6% in early Monday trading, while Coinbase (NASDAQ:COIN) shares are off 5%. The selloff follows a weekend SEC filing showing Strategy executed its first Bitcoin sale since December 2022. MSTR stock is trading near $150 after closing Friday at $159.09, while COIN stock is hovering around $179.50 from a Friday close of $189.03.
The moves cap a brutal stretch for both names, with MSTR stock down 60% over the past year and COIN stock down 28%. Bitcoin is the centerpiece of today’s story. Bitcoin (CRYPTO:BTC) is trading below $72,000, down 3% over the past 24 hours and 32% over the past year.