Saylor's Strategy sold bitcoin for the first time since 2022. These firms are still buying
Key takeaways
- The move came as the scheme has faced major headwinds since gaining popularity last year.
- Dozens of companies raised capital through stock and debt offerings to buy bitcoin, ether (ETH) and other cryptocurrencies, aiming to replicate Michael Saylor's playbook.
- However, that all changed as crypto markets peaked in October.
These firms are still buying With Strategy breaking its accumulation streak and many peers stepping aside, the list of active digital asset treasuries has narrowed considerably.By Krisztian Sandor|Edited by Aoyon Ashraf Jun 1, 2026, 5:25 p.m. 3 min read Make preferred on Tom Lee and Michael Saylor at Consensus. (Coin Desk)What to know: Strategy sold bitcoin for the first time since December 2022, ending a streak that helped define the crypto treasury trade.Most digital asset treasury firms have halted purchases or started selling assets since the market turned lower in October.Bitmine and Strive remained among the few companies still actively buying over the past month.Strategy (MSTR), the company whose bitcoin accumulation strategy inspired a new generation of so-called digital asset treasury firms, sold BTC for the first time since December 2022, offloading roughly $2.5 million worth of tokens.
The move came as the scheme has faced major headwinds since gaining popularity last year.
Dozens of companies raised capital through stock and debt offerings to buy bitcoin, ether (ETH) and other cryptocurrencies, aiming to replicate Michael Saylor's playbook. The model worked for a while last year as crypto prices surged and treasury stocks traded at premiums to their underlying values.