Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

On July 6, Bitcoin dropped more than 2% after Strategy (NASDAQ:MSTR) — a corporate buyer of Bitcoin — disclosed in a regulatory filing (1) that it had sold about $216 million worth of the cryptocurrency.

That’s the second time this year the company has sold some of its Bitcoin reserves — a complete reversal of its former “never sell” approach. Strategy posted a $12.54 billion net loss (2) in the first quarter of this year as the price of Bitcoin slumped.

Must Read

• JPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a…