Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

Jiang Zhuoer, founder of BTC mining pool BTC.TOP, posted that U.S. crypto asset firm Strategy has sold 3,588 BTC for $216 million. This marks Strategy’s first large-scale BTC sell-off, carried out despite holding $2.55 billion in cash reserves — enough to cover 17.6 months of interest payments — and voluntarily selling more BTC than required to meet its interest obligations. This move signals the breakdown of Strategy’s long-held "never sell BTC" narrative. Jiang said he does not understand the reason behind Strategy’s current large-scale sell-off, noting that even if it lacks U.S. dollars, it could continue raising funds by issuing additional common stock. While this would reduce BTC holdings per share, he argues that preserving the "never sell" narrative and related beliefs is far more important than per-share BTC metrics. If Strategy fails to repurchase BTC at lower prices after the sell-off, it will also lead to a decline in per-share BTC holdings. Jiang added that Strategy’s willingness to bear this cost can only be interpreted as its preparation to conduct significant BTC swing trading. Jiang further stated that the 20,000 BTC already approved by Strategy’s board will almost certainly be sold in full. He believes that during the upcoming bull market phase, the market may witness a sell-off by an entity holding hundreds of thousands of BTC.

Bitcoin mining firm American Bitcoin, backed by the Trump family, has increased its holdings by 500 BTC, bringing its total position to 8,000 BTC.

According to market data from BIT (bit.com), Dell’s stock has risen more than 8%, currently trading at $427.26. In an earlier report, US President Donald Trump publicly said, "Go buy a Dell computer," once again endorsing Dell. Regarding Dell’s previous donation to the "Trump account," Trump stated, "We will find a way to get that money back."

According to Reuters, when asked whether the "Trump account" might hold Bitcoin, Trump stated: "It could happen."

Trump said that thanks to the Trump Account, newborns today will hold a massive financial advantage by the time they turn 18. While promoting the account’s launch ceremony, he heavily touted early investment as a means to build long-term wealth, noting that the Dow Jones, Nasdaq, and S&P 500 have all risen recently. “I think the market will skyrocket,” he said, urging families to keep investing rather than cashing out. (Jinshi)

Grayscale Research Head Zach Pandl published a note stating that in his view, Strategy’s sale of Bitcoin is a necessary move to restore market confidence in STRC and its overall structure. Last week’s partial Bitcoin sale by Strategy further reduced short-term tail risks for Bitcoin, and STRC is expected to continue performing well going forward. As previously reported, Strategy sold 3,588 Bitcoin last week, generating $216 million in proceeds to pay dividends on its digital credit securities. As of July 5, the company’s Bitcoin reserves stood at 843,775 coins, alongside $2.55 billion in U.S. dollar reserves.