Bitcoin (BTC) dropped below $64,000, down 2% on Monday, as it erased much of the momentum seen over the weekend. The decline follows reports of selling pressure from crypto-focused companies MARA Holdings (MARA) and Strategy (MSTR).
MARA offloads $1.63 billion worth of BTC in H1, retains $2.1 billion holding
MARA Holdings depleted its digital asset reserves in the first half of the year, offloading roughly 23,093 Bitcoin (BTC) for $1.627 billion, according to a quarterly Form 10-Q submitted to the Securities & Exchange Commission (SEC) on Friday.
The sales marked an expansion of MARA’s digital asset management strategy. In 2025, the company adjusted its approach to allow the sale of Bitcoin produced through its mining operations. The firm expanded the strategy to permit the sale of BTC already held on its balance sheet.
MARA noted that the proceeds were used to fund ongoing operations, support growth opportunities and manage liquidity.
As of June 30, MARA held 35,577 BTC with a fair value of $2.1 billion, based on a Bitcoin price of approximately $58,524. Among its holdings, 9,270 BTC were classified under the company’s digital asset management strategy.
The proceeds from its sales helped offset other uses of cash, including debt repayments and capital expenditures. The company stated that it initiated a restructuring plan in response to its strategic shift toward AI-related opportunities and a significant decline in Bitcoin prices earlier in the year.
The filing further showed a substantial reduction in the carrying value of MARA’s digital assets compared with year-end 2025, reflecting both the Bitcoin sales and the lower market price at the reporting date.
MARA noted that it may continue holding Bitcoin for long-term investment purposes while also selling from time to time, depending on market conditions and capital-allocation priorities.
“Our $2.1 billion Bitcoin position represents a significant and flexible source of liquidity,” the filing stated.
MARA shares dropped to $9.44, down 6.4% at the time of writing on Monday.
Strategy cuts Bitcoin holdings as cash reserves expand
Meanwhile, Bitcoin treasury firm Strategy disclosed sales of 1,690 BTC last week, generating $108.6 million in proceeds at an average sale price of $64,262 per BTC. The company used the full proceeds to repurchase over 1.15 million shares of its STRC variable-rate preferred stock under its Digital Credit Securities Repurchase Program.
The company also sold 6.58 million shares of its common stock, MSTR, for $653.1 million through its at-the-market (ATM) program.
Strategy allocated $650 million to its USD cash reserve, which has now risen to $4.65 billion as of August 9, with the remainder added to cash.
MSTR is trading at $97.70, down 2.2% at the time of writing. Meanwhile, BTC is trading at $63,930, down nearly 2% in the past 24 hours.
