VanEck exec: Strategy's recent BTC sale is separate from its $1.25B program

Matthew Sigel, head of crypto research at Bitcoin ETF issuer VanEck, has analyzed that Strategy's (Nasdaq: MSTR) recent BTC sale may have been a separate action from its previously announced $1.25 billion cash-out program. Sigel noted that according to a report Strategy filed with the U.S. SEC yesterday, the remaining limit on the $1.25 billion sales program is unchanged. He explained this is because the program only covers BTC sales intended to secure cash reserves, while sales for direct dividend payments are excluded. Consequently, Sigel warned, Strategy's actual capacity to sell BTC could be greater than the $1.25 billion the market perceives.