Crypto Whale Dumps $740M in Bitcoin—Still Hoards a Staggering 600,000 BTC

Bitcoin's market just got rocked by a seismic sell-off—but the whale behind it isn’t done playing.

The $740 Million Exit

A single strategy unloaded three-quarters of a billion dollars worth of BTC, sending tremors through the market. Was it profit-taking? A hedge against volatility? Or just another rich entity playing hot potato with retail traders’ dreams?

The 600,000 BTC Elephant in the Room

Despite the dump, this whale’s vault still holds over 600,000 Bitcoin—worth roughly $40 billion at current prices. That’s enough to crash exchanges if they ever sneeze wrong. Talk about centralized risk wrapped in 'decentralized' packaging.

Cynical Finance Jab

Ah, the 'strategy' here? Buy low, sell some high, and keep enough dry powder to manipulate the next cycle. Rinse, repeat, and let the plebs chase the pumps.

Stock Sales Cover the Bill

To pull it off, Strategy sold 1.64 million shares of its own stock, raising around $736.4 million. It also raised an additional $3.9 million by selling off smaller positions. Altogether, the fresh cash was funneled directly into Bitcoin. At current supply rates, this single purchase consumed almost two weeks’ worth of new bitcoin entering the market.

STRATEGY BUYS ANOTHER 6,220 #BITCOIN FOR $739.8 MILLION#cryptonews #BTC #Altcoinnews pic.twitter.com/EcP1fQu1mi

— crypto Empire (@Cryptoempire19) July 21, 2025

Warnings Start Rolling In

Not everyone’s impressed. James Check from Checkonchain said these kinds of strategies might work for now, but things could get ugly fast if prices take a hit. Companies chasing this model could be forced to sell Bitcoin just to prop up their stock. That means added volatility for everyone involved, not just the firms holding the coins.

Matthew Sigel at VanEck agrees there’s risk. He pointed out that selling shares while they’re trading above fair value makes sense. But if prices fall too close to book value, pumping out more shares can hurt long-term investors. His view? Firms need better rules around when to raise money and when to hit pause.

Following the Playbook

Strategy is not alone in this approach. More and more public firms are using Bitcoin as a treasury asset. They raise funds by selling shares, then buy BTC. When markets are flying, it makes them look smart. But if things stall, the same tactic could backfire. Sigel says companies need to think harder about timing and structure before turning this into a long-term playbook.

It’s Also a Bet on Bitcoin

For all the critiques, this kind of spending shows real confidence in Bitcoin. You don’t throw $740 million into something unless you think it will last. With Bitcoin pushing past $120,000 and the overall crypto market climbing above $4 trillion, this is a signal that some investors see the space maturing.

Will It Hold?

The next few months will reveal whether this model holds up. If Strategy’s stock stays strong, others may follow. If it starts wobbling, the fallout could force buybacks or internal shakeups. Either way, markets will be watching closely.

Strategy’s giant Bitcoin haul puts it among the biggest corporate holders in the world. That $28 billion gain looks great, but it’s only real if the company can manage risk and stay liquid. This might be a turning point, or it could be a cautionary tale in the making.

Key Takeaways

• Strategy bought 6,220 BTC for $739.8 million, raising its total holdings to 607,770 BTC worth nearly $73 billion at current prices.
• The company funded the purchase by selling 1.64 million shares and small asset positions, using every dollar to buy Bitcoin.
• Analysts warn that this model creates risks, especially if share prices drop and firms are forced to sell BTC to stay afloat.
• Strategy is part of a growing trend of public firms using Bitcoin as a treasury asset, raising money through stock sales.
• This massive buy signals a strong long-term belief in Bitcoin but also raises questions about volatility and financial stability.