Bitcoin fell below $71,000 on Monday morning following a disclosed sale of 32 bitcoin (for roughly $2.5 million) by Michael Saylor’s bitcoin treasury company, Strategy. Saylor has stated on numerous occasions that Strategy would never sell its bitcoin. But executives at the company seemed more open to the possibility in recent weeks. Strategy still holds 843,706 bitcoin on its balance sheet, making it the world’s largest corporate bitcoin holder. The sale by Strategy occurred last week and was first disclosed in an SEC filing on Monday. Strategy directed the roughly $2.5 million in proceeds toward distributions on its STRC perpetual preferred stock, a vehicle that delivers variable yields to investors whose capital the firm uses to accumulate more bitcoin. According to Arkham Intelligence, on-chain activity had already hinted at a potential sale, with over 400 bitcoin shifted to Coinbase Prime on Friday. While many have assumed this is the first time Strategy has ever sold bitcoin, it actually sold some earlier on in its journey as a digital asset treasury company (DAT) in December 2022. That sale was for tax loss harvesting, which is a practice that involves realizing losses on assets to offset taxable gains elsewhere in a portfolio. Strategy purchased more bitcoin than it sold just a few days after that 2022 sale, according to blockchain analyst Ai Yi, as reported by The Block.