Bitcoin Slumps to $63,080 as MicroStrategy Sells for First Time Since 2022
1h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
bitcoinbtc
Fazen Markets Editorial Desk
Collective editorial team · methodology
Trades XAUUSD 24/5 on autopilot. Verified Myfxbook performance. Free forever.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. Vortex HFT is informational software — not investment advice. Past performance does not guarantee future results.
MicroStrategy has executed a sale of its Bitcoin holdings for the first time since 2022, a significant departure from its longstanding accumulation strategy. The news, reported by Eamonn Sheridan at investinglive.com on June 4, 2026, coincides with a sharp decline in the cryptocurrency's price. Bitcoin traded near $63,080 as of 00:55 UTC today, reflecting a 24-hour loss of 5.72% and a market cap of $1.26 trillion.
MicroStrategy, led by executive chairman Michael Saylor, has been the most prominent public company advocate for Bitcoin as a treasury reserve asset. The firm initiated its buying strategy in August 2020 and had not sold any Bitcoin through multiple bull and bear cycles, adhering to a public "never sell" philosophy. This consistency turned the company into a bellwether for institutional Bitcoin conviction.
The sale occurs against a backdrop of sustained pressure in digital asset markets. Bitcoin has struggled to regain momentum after failing to break key resistance levels, including the $74,535 futures level referenced in the source. Macroeconomic uncertainty surrounding interest rates and risk asset volatility has contributed to a cautious environment for high-beta assets like crypto.
The direct catalyst appears to be a strategic portfolio adjustment, potentially to realize gains, manage tax liabilities, or fund corporate operations. With Saylor's reported cost basis around $75.50 per coin, sales at current levels above $60,000 would still represent substantial realized profits on the earliest acquired coins, even if later purchases are underwater.
The market data paints a clear picture of the current selloff. Bitcoin's price of $63,080 represents a 24-hour decline of 5.72%. The asset's 24-hour trading volume is elevated at $49.69 billion, indicating high selling pressure and liquidity exiting positions.
| Metric | Value | 24h Change |
|---|---|---|
| Bitcoin (BTC) | $63,080 | -5.72% |
| Market Capitalization | $1.26 Trillion | - |
| 24h Trading Volume | $49.69 Billion | - |
This weakness is not uniform across the crypto sector. While Bitcoin struggles, some altcoins show resilience. NEAR Protocol, for instance, traded at $2.78, posting a 24-hour gain of 1.19%. Its market cap stands at $3.62 billion with $1.33 billion in volume. This divergence suggests capital rotation within the crypto complex rather than a wholesale exit from digital assets.
MicroStrategy's sale introduces a new supply overhang and psychological headwind for Bitcoin. The firm's 175,000+ Bitcoin holdings made it a de facto ETF, and any sustained selling program could pressure prices further. Publicly traded Bitcoin proxies like the Grayscale Bitcoin Trust (GBTC) and spot Bitcoin ETFs may see outflows as sentiment sours.
Conversely, the move could benefit short-term traders and derivatives platforms like Coinbase and CME Group through increased volatility and trading activity. Mining stocks, such as those of Riot Platforms and Marathon Digital, typically exhibit higher beta to Bitcoin's price and face amplified downside risk during such selloffs.
A key counter-argument is that the sale is isolated and tactical. MicroStrategy may be optimizing its holdings or raising capital for operational needs without abandoning its long-term thesis. The firm's history suggests it is more likely to resume buying at lower prices. Current positioning data from futures markets shows funding rates turning negative, a sign that leveraged longs are being liquidated, which can sometimes precede a stabilization.
Traders will monitor whether Bitcoin can hold the $60,000 psychological support level. A break below could target the May 2024 swing low near $56,500. On the upside, resistance is now seen at the 50-day moving average, currently near $67,500, and the recent high near $74,500.
The next major catalyst is the monthly U.S. Consumer Price Index (CPI) inflation report, due June 11. Higher-than-expected inflation could reinforce a hawkish Federal Reserve stance, pressuring risk assets further. The Federal Open Market Committee (FOMC) meeting on June 18 will provide updated policy projections and could dictate the macro tone for the quarter.
Market participants will also scrutinize MicroStrategy's next quarterly earnings call and any 8-K filings for details on the size, timing, and rationale behind the Bitcoin sales. Further disclosures will clarify if this is a one-time event or the start of a new corporate strategy.
MicroStrategy selling Bitcoin introduces a new, large source of potential supply into the market, which can create downward price pressure in the short term. Historically, the company was a consistent net buyer, so its shift to a seller alters the supply-demand dynamic. The psychological impact may be greater than the actual sell volume, as it signals a change in conviction from a flagship corporate holder, potentially influencing other institutional investors.
The current selloff is less severe in both magnitude and fundamental cause than the May 2022 crash triggered by the Terra/Luna collapse. In May 2022, Bitcoin fell over 30% in a week, breaking below $30,000. The current decline from recent highs is approximately 15%, and the market structure is more strong with regulated spot ETFs providing liquidity. However, both events featured cascading liquidations in futures and options markets.
Michael Saylor has publicly stated that MicroStrategy's average cost basis for its Bitcoin holdings is approximately $75.50 per coin. This figure is an aggregate across all purchases made since 2020. It is crucial to note that this is an average; the cost basis for the earliest purchased coins is significantly lower, likely under $10,000, meaning sales at current prices still represent large realized gains on those units.
MicroStrategy's first Bitcoin sale since 2022 breaks a key pillar of institutional HODL sentiment amid a sharp market decline.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.
Vortex HFT is our free MT4/MT5 Expert Advisor. Verified Myfxbook performance. No subscription. No fees. Trades 24/5.
Trade the assets mentioned in this article
Trade on BybitSponsored
Open a demo account in 30 seconds. No deposit required.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.