Empery cuts bitcoin stash by 76% after selling 1,635 BTC
Empery's bitcoin reserves fell 76% in weeks after offloading 1,635 BTC, with 954 BTC pledged against $35M debt.
Empery, a company that held bitcoin as a treasury asset, has dramatically reduced its holdings. The firm offloaded 1,635 BTC over the past several weeks, cutting its reserves by 76%, according to recent data.
As of Aug. 6, Empery retained 1,279 BTC. Of that remaining balance, 954 BTC have been pledged as collateral against a $35 million debt obligation, leaving a smaller pool of unencumbered bitcoin.
Treasury strategy reversal
The rapid selloff marks a notable shift for a company that had followed the so-called 'never sell' treasury model, a strategy embraced by some firms looking to hold bitcoin long-term. The move suggests either financial pressure or a deliberate change in approach.
Empery's situation illustrates the risks of using bitcoin as collateral. When debt is secured by crypto, market downturns can force liquidations or additional asset sales, shrinking reserves quickly. The company is not alone in adjusting its bitcoin posture amid ongoing price volatility.