Analysis: Strategy of small-scale BTC sales breaks the narrative, market expectations quietly change

According to independent analyst Markus Thielen, Strategy recently made a small-scale sale of Bitcoin after the performance conference call in May, which the market interpreted as testing market reactions and the flexibility of capital allocation strategies.

The analyst pointed out that although Strategy remains highly optimistic about Bitcoin, the success and expansion of the STRC preferred stock financing tool may take precedence in the overall financial arrangements. This move breaks the company's market image of "buying only, not selling" that has lasted for nearly six years. Considering Strategy's strong market influence on Bitcoin demand, this shift is quietly rewriting market expectations.