Bitcoin (CRYPTO: BTC) traded below $60,000 Friday, capping a brutal week for crypto after Strategy Inc. (NASDAQ:MSTR) disclosed its first Bitcoin sale since 2022.
The company sold 32 Bitcoin for roughly $2.5 million in late May, breaking Michael Saylor’s “never sell” pledge. Proceeds funded distributions on STRC (NASDAQ:STRC), Strategy’s perpetual preferred stock yielding 11.5%.
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With an average cost basis near $75,700, Strategy is now sitting on more than $10 billion in unrealized losses. MSTR shares trade roughly 70% below their 2025 high.
A ‘Three-Body Problem’
