Strategy’s first Bitcoin sale sparked a selloff, with Grayscale warning its leveraged model limits future BTC buying as STRC trades below par.

Strategy sold 32 BTC for $2.5M, its first Bitcoin sale since 2022. The move triggered a 5.85% stock drop, a 2% Bitcoin decline, and Polymarket disputes.

With STRC trading under $100, experts are at odds over whether the sale has exposed a “structural crack” in Strategy’s Bitcoin flywheel.