Strategy Slides 6%, Coinbase Drops 5% as Saylor’s First Bitcoin Sale in Nearly 4 Years Triggers Crypto Selloff

MicroStrategy (MSTR) sold 32 Bitcoin (BTC) for approximately $2.5 million, marking the company’s first BTC sale since December 2022, and the shares fell 6% to around $150.

Coinbase (COIN) stock declined 5% to $179.50 as the company’s revenue depends on crypto trading volumes.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coinbase didn't make the cut. Grab the names FREE today .

Shares of Strategy ( NASDAQ:MSTR ) are down 6% in early Monday trading, while Coinbase ( NASDAQ:COIN ) shares are off 5%. The selloff follows a weekend SEC filing showing Strategy executed its first Bitcoin sale since December 2022.

MSTR stock is trading near $150 after closing Friday at $159.09, while COIN stock is hovering around $179.50 from a Friday close of $189.03. The moves cap a brutal stretch for both names, with MSTR stock down 60% over the past year and COIN stock down 28%.

Bitcoin is the centerpiece of today's story. Bitcoin (CRYPTO:BTC) is trading below $72,000, down 3% over the past 24 hours and 32% over the past year.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coinbase didn't make the cut. Grab the names FREE today .

Per Strategy's SEC filing reported as by Stocktwits and CryptoProwl, the company sold 32 Bitcoin between May 26 and May 31 for approximately $2.5 million. That marks the first Strategy Bitcoin sale since December 2022, when Strategy/MicroStrategy unloaded 704 BTC for about $11.8 million.