MicroStrategy Sells Bitcoin Amid Rising AI Stock Gains
On July 6, MicroStrategy sold approximately 3,588 BTC ($216 million) to fund preferred stock distributions and replenish its USD Reserve. The sale triggered a surge in popular Bitcoin mining stocks like IREN (+13.4%), TeraWulf (+11%), Cipher Digital (+10.83%), and HIVE Digital (+5.4%). These companies are increasingly pivoting toward AI infrastructure, with some gains attributed to new partnerships or projects.
Tickers: $CIFR $HIVE $IREN $MSTR $WULF
Topics: AI stocks Bitcoin mining Michael Saylor MicroStrategy preferred stock distributions