{"id":1123460,"date":"2026-08-01T04:32:24","date_gmt":"2026-08-01T04:32:24","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/1123460\/"},"modified":"2026-08-01T04:32:24","modified_gmt":"2026-08-01T04:32:24","slug":"bitcoin-falls-to-3-week-low-heres-why","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/1123460\/","title":{"rendered":"Bitcoin Falls To 3-Week Low\u2014Here\u2019s Why"},"content":{"rendered":"

Topline<\/p>\n

Bitcoin on Friday fell to its lowest level in weeks after Strategy, the world\u2019s largest institutional backer of the leading cryptocurrency, announced plans to offload billions of dollars worth of crypto amid a weaker-than-expected earnings report.<\/p>\n

The largest institutional holder of bitcoin has shifted to selling its position in recent months. <\/p>\n

VCG via Getty ImagesKey Facts<\/p>\n

The price of bitcoin dropped 3.1% over the last 24 hours to around $62,702 as of Friday afternoon, after falling as low as $62,498 earlier in the day, the crypto\u2019s lowest level since July 9. <\/p>\n

A slide followed Strategy announcing quarterly revenue of $122.4 million on Thursday, just below consensus analyst estimates of $122.9 million, and CEO Phong Le said during Strategy\u2019s earnings call the company had discussed plans to sell up to $5 billion of bitcoin. <\/p>\n

Le said the bitcoin sale is \u201cappropriate for the company\u201d because it allows Strategy to build up its cash reserves and potentially fund stock repurchases, and while the figure could be much smaller, Strategy founder Michael Saylor cautioned it could be larger.<\/p>\n

Shares of Strategy declined 7.3% on Friday, extending a roughly 42% loss so far this year.<\/p>\n

forbes valuation<\/p>\n

Saylor, who founded Strategy, then known as MicroStrategy, in 1989, has an estimated net worth of $3.2 billion as of Friday. He emerged as a leading executive during the dot-com bubble, after which Saylor\u2019s fortune shrank, but Strategy\u2019s bitcoin investments made him a billionaire once again as he directed the firm to shift its corporate coffers into cryptocurrency. <\/p>\n

big number<\/p>\n

843,775. That\u2019s Strategy\u2019s total bitcoin holdings, which the company priced<\/a> at an aggregated market value of $63.8 billion, or about $75,476 per token, as of July 6.<\/p>\n

key background<\/p>\n

Strategy\u2019s bitcoin reserves far outweigh its cash holdings, which totaled $1.4 billion as of last month. The firm announced its first bitcoin sale in years in June, sparking a sell-off in the leading cryptocurrency to below $60,000, effectively cutting its value by more than 100% since hitting an all-time high above $126,000 in October. Saylor defended Strategy\u2019s approach to bitcoin, claiming \u201cvolatility tests capital structure\u201d and reaffirmed Strategy \u201cremains focused on bitcoin, disciplined capital allocation, credit quality and long-term value creation.\u201d JPMorgan analysts cautioned that Strategy should add to its cash reserves, however, arguing the move would \u201crestore confidence and reduce investor concerns.\u201d<\/p>\n

further readingForbesBillionaire Saylor \u2018Focused On Bitcoin\u2019 As Strategy Shares Plunge And Analysts Caution Against BuyingBy Ty Roush<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline Bitcoin on Friday fell to its lowest level in weeks after Strategy, the world\u2019s largest institutional backer…\n","protected":false},"author":2,"featured_media":1123461,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[2257,2258,51,72961,305749,66,305748,16,15],"class_list":["post-1123460","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bitcoin","tag-bitcoin-price","tag-business","tag-microstrategy","tag-price-of-bitcoin","tag-strategy","tag-strategy-shares","tag-uk","tag-united-kingdom"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/117018384669227245","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1123460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1123460"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1123460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1123461"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1123460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1123460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1123460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}