The cryptocurrency was last down 1.6% to $64,147.9
Bitcoin slid below $65k on Monday, as a surge in oil prices weighed on risk sentiment. Another sale of the cryptocurrency by top corporate holder Strategy also clouded the mood.
The cryptocurrency was last down 1.6% to $64,147.9 by 21:00 GMT.
Elsewhere, Strategy sold 1,690 bitcoin for around $108.6 million between August 3 and August 9, at an average price of $64,262 per coin, according to a regulatory filing with the U.S. Securities and Exchange Commission on Monday.
The sale brings Strategy’s total bitcoin holdings down to 840,447 BTC, valued at nearly $54.7 billion. The company’s average purchase price across its holdings stands at $75,385 per bitcoin, for a total cost basis of around $63.4 billion including fees and expenses.
The move comes after Strategy sold 6,585,682 shares of its MSTR stock last week for $653.1 million, leaving $22 billion available under its at-the-market equity program. The company said proceeds from the sales funded the repurchase of 1,152,020 shares of its STRC preferred stock and replenished its cash reserves by $650 million, bringing its USD reserve to $4.65 billion as of August 9.
Looking at the Middle East, oil prices gained almost 5% on Monday after Iran ruled out direct talks with the U.S. and said a full reopening of the Strait of Hormuz would only be possible after Washington met certain conditions.
Crude benchmarks had slumped last week, largely due to assertions from U.S. officials including President Donald Trump that talks with Iran were ongoing. But the losses were tempered towards the end of the week amid Tehran’s continuous rejection of Washington’s negotiation claims and reports that the Strait of Hormuz’s management framework would prohibit passage of U.S, Israeli, and other hostile vessels through the vital waterway.
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