By Hannah Lang
NEW YORK, July 13 (Reuters) – 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…
