Strategy bitcoin sales shine light on faltering crypto hoarding companies

NEW YORK, July 13 : A move by Michael Saylor's bitcoin stockpiling company Strategy to authorize more bitcoin sales has once again shone a spotlight on a clutch of public crypto hoarding companies, which have been buffeted by falling token prices. Strategy's shares briefly bounced on Friday after analysts blessed a plan announced late last month, which included a share repurchase program and authorized as much as $1.25 billion ​in bitcoin sales. The company, whose shares soared in late 2024 through most of last year before hitting two year lows last month, has already sold about $218 million in bitcoin this year to fund dividends and replenish its U.S. dollar reserves. The sales have again raised questions about the viability of dozens of copycat "digital asset treasury" companies, or DATs