The Market Overreacted to Strategy's BTC Sale

Today's news that Strategy sold 32 BTC was met by the market with a surprisingly gloomy reaction. The thing is, this had already been clear for several days - and I wrote about it myself recently. One could have expected the sale to have been priced in by now.

Instead, the market somehow acted as if Strategy had been Bitcoin's last remaining buyer. And now that even Strategy has started selling, no one else will ever want to buy.

Of course, you can understand the mood. If Strategy's CEO has always said that you should sell a kidney first and only then start thinking about selling Bitcoin, then either he has run out of kidneys or he has reconsidered his view of Bitcoin's value. I think the correct answer is the second one. Saylor's kidneys are still exactly where they should be.

But does it really matter who has reconsidered what? Yes, Saylor is something of an icon. He inspired people and gave them confidence and peace of mind. But that does not mean Strategy is the only buyer in the entire market.

So if you are worried that you will not find anyone to sell your Bitcoin to, remember that rabbit.io is here. We are always ready to exchange BTC for stablecoins or another cryptocurrency at the best rate available on the market.