MicroStrategy is conducting a costly sell-off experiment. The company previously approved a plan to sell up to $1.25 billion worth of BTC, involving around 20,000 coins, but their execution has been extremely aggressive and seemingly indifferent to costs. Last week, they sold 3,588 BTC (total value $216 million) at an average price of just $60,197—far below their average holding cost of $75,651. This means the move directly resulted in a $55.45 million paper loss. The logic behind this kind of low-price sell-off is worth scrutinizing: is the company sacrificing short-term profits to gain liquidity, or are they clearing the way for larger-scale asset allocation down the line?