This is the part I still can’t make sense of.
Sell 32 BTC and leave everyone hanging on the “never sell” narrative.
Then turn around and buy 1,550 BTC a week later while adding $100M to USD reserves.
Why not just net it out and say:
“We sold 32, bought 1,550, added 1,518 BTC net, and increased reserves by $100M.”
That would have shown the same willingness to sell when needed, without making the market sit there wondering what the 32 BTC sale meant.
Maybe there’s some accounting, legal, or timing reason I’m missing.
But from a messaging standpoint, selling 32 first was small enough to solve almost nothing and big enough to spook everyone.