Bitdeer Withdraws 943.1 BTC in February, Corporate Selling Could Pressure Bitcoin Markets

BTC-1.57%
STRC2.16%
According to Matthew Sigel, head of digital asset research at VanEck, corporate Bitcoin treasuries financed through convertible bonds and loans may create selling pressure when obligations mature. In February, Bitdeer withdrew 943.1 BTC from its reserves to fund AI data center investments. In May, Strategy sold 32 BTC to cover dividend payments, with STRC shares subsequently trading 15% below face value. JPMorgan flagged this trend as a two-pronged risk to Bitcoin markets, particularly given Onramp Institutional's estimate that 83% of STRC shares are held by retail investors.
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