MicroStrategy Teases New Bitcoin Buy Amid Whale Sell-Off
Michael Saylor, co-founder of MicroStrategy, announced on X that “Bitcoin is on sale,” signaling a potential third corporate purchase this month. The firm already acquired 155 BTC on August 11 and 430 BTC on August 18, bringing its holdings to 629,376 BTC valued at over $75 billion, with $25.8 billion in unrealized gains. Economist Peter Schiff criticized the leveraged strategy and warned of a “going out of business sale.”
Tokyo-listed Metaplanet also added 103 BTC for $11.7 million, lifting its holdings to 18,991 BTC and threatening to overtake Riot Platforms. Meanwhile, large whale activity—18,000 BTC sold on Hyperliquid—drove Bitcoin’s price from $117,000 to $111,581, highlighting market volatility.
Spot ETFs and custodians now hold over 1.3 million BTC, reducing on-chain demand and driving transaction fees to decade lows. Traders should watch the tug of war between corporate investment and whale selling, and assess how ETF inflows and structural changes could influence Bitcoin’s price in the short and long term.
Neutral
MicroStrategy’s continued Bitcoin purchases indicate strong long-term institutional demand, which is bullish for market sentiment. However, significant whale selling on Hyperliquid triggered sharp price declines, underscoring heightened volatility. Historical data shows that corporate buying often supports price floors over time, but large private sales can produce short-term bearish pressure. The balance of these factors suggests a neutral impact, as bullish institutional inflows are offset by periodic whale dumps and structural market changes like ETF custody.