{"id":76628,"date":"2026-08-10T18:21:02","date_gmt":"2026-08-10T18:21:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-64000-as-strategy-sells-1690-btc\/"},"modified":"2026-08-10T18:21:02","modified_gmt":"2026-08-10T18:21:02","slug":"bitcoin-drops-below-64000-as-strategy-sells-1690-btc","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-64000-as-strategy-sells-1690-btc\/","title":{"rendered":"Bitcoin Drops Below $64,000 as Strategy Sells 1,690 BTC"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin slipped under $64,000 on Aug. 10 after Strategy sold 1,690 coins to repurchase STRC preferred stock.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The price reversal triggered over $47 million in long position liquidations across the crypto market.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Strategy CEO Phong Le defended the asset sale, while critics like Peter Schiff questioned its stock value.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Volatility and Market Liquidations<\/h2>\n<p>Bitcoin (BTC) slid below $64,000 Monday afternoon, snapping a multi-day streak of marginal gains after bitcoin treasury giant Strategy <a href=\"https:\/\/www.strategy.com\/press\/strategy-increases-usd-reserve-by-650m-to-4-point-65b-and-repurchases-109m-of-strc_08-10-2026\" target=\"_blank\" rel=\"noopener noreferrer\">sold 1,690 bitcoins to fund preferred stock repurchases<\/a>. The downturn comes against a backdrop of regulatory and technical headwinds, including controversy surrounding the CLARITY Act vote and a BIP-110 chain split.<\/p>\n<p>Yet, a few hours before tumbling, bitcoin appeared on course to <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoins-price-barely-blinks-amid-coldcard-sweeps-and-bip-110s-collapse\/\">replicate the price action that saw it breach the $65,000 threshold<\/a> on Aug. 7. In fact, as shown by the daily chart, the cryptocurrency tapped an intraday high of $65,416 just after 6 p.m. EST on Sunday. Although it retreated slightly, the cryptocurrency held the $65,000 level into the early hours of Aug. 10.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p>After breaking support shortly after 8 a.m. EST, bitcoin tumbled to just under $63,770, marking a daily loss of nearly 2%. The downturn erased over $20 billion from its market capitalization\u2014dropping it from $1.3 trillion to $1.28 trillion in under four hours\u2014and wiped out more than $47 million in long leveraged positions over 24 hours. By comparison, short liquidations topped $12 million during the same period.<\/p>\n<p>As reported earlier by Bitcoin.com News, Strategy, which sold the 1,690 BTC between Aug. 3 and Aug. 9, achieved an average price of $64,262 per coin. Following the sale, Strategy\u2019s BTC holdings dropped to 840,447 coins, with an average purchase price of $75,385 per coin. Using the $108.6 million generated from the sale, Strategy repurchased 1,152,020 STRC shares.<\/p>\n<p>Before the latest sale, Strategy also <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/strategy-completes-third-bitcoin-sale-of-2026-keeps-842138-btc\/\">disclosed that it had sold 1,638 BTC<\/a> between Jul. 27 and Aug. 2 for approximately $104.7 million. Commenting on the latest sale, Strategy CEO Phong Le said:<\/p>\n<p>\u201cOur USD Reserve and Duration are now at all-time highs. In 2.5 months, we added nearly $3.8 billion and grew both more than 5X. This is the Digital Credit Capital Framework at work.\u201d<\/p>\n<p>While Le and Strategy Chairman Michael Saylor have framed the maneuver positively, critics and members of the crypto community were not convinced. Peter Schiff, who has <a href=\"https:\/\/news.bitcoin.com\/peter-schiff-says-strategy-is-no-longer-a-leveraged-bitcoin-bet-warns-mstr-shareholders-of-infinite-dilution\/\">repeatedly branded Strategy a Ponzi scheme<\/a>, questioned the logic of buying or holding the company\u2019s common stock.<\/p>\n<p>\u201cYou have now reduced the Bitcoin YTD yield by 87% since May 25th (QTD it\u2019s minus 6.4%). At this rate, by next week the yields will be negative. How much Bitcoin per share are you willing to destroy to keep your STRC Ponzi scheme going? Why should any Bitcoiner own MSTR common,\u201d Schiff <a href=\"https:\/\/x.com\/PeterSchiff\/status\/2086794757263573112\" target=\"_blank\" rel=\"noopener noreferrer\">asked in an X post<\/a> replying to Saylor.<\/p>\n<p>Pushing back against critics, macro strategist Dan Hillery posted a narrative on X framing Strategy\u2019s move as a <a href=\"https:\/\/x.com\/hillery_dan\/status\/2086813593119416605\" target=\"_blank\" rel=\"noopener noreferrer\">disciplined balance sheet optimization<\/a>. Hillery argued that selling a small portion of bitcoin to repurchase STRC shares trading at a discount or to fortify preferred dividend reserves is an accretive capital management step\u2014one that reduces the company\u2019s long-term cost of capital and strengthens its financial runway.<\/p>\n<p>In subsequent responses to pushback on his post, Hillery addressed concerns over the drop in MSTR\u2019s \u201cBitcoin yield,\u201d maintaining that optimizing capital structure and securing preferred obligations during market volatility takes precedence over short-term per-share yield metrics, ultimately protecting equity value over a longer time horizon.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-drops-below-64000-as-strategy-sells-1690-btc\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin slipped under $64,000 on Aug. 10 after Strategy sold 1,690 coins to repurchase STRC preferred stock. The price reversal triggered over $47 million in long position liquidations across the crypto market. Strategy CEO Phong Le defended the asset sale, while critics like Peter Schiff questioned [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":76629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76628"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76628"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76629"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}