Saylor Defends Strategy's $200M BTC Sale: Company Policy, Not Personal Advice
Strategy CEO Michael Saylor has responded to recent criticisms over his company's decision to sell $200M worth of BTC. Critics accused him of hypocrisy due to his long-held Bitcoin maximalist philosophy and advocacy against selling Bitcoin.
Saylor clarified that the 'never sell your bitcoin' narrative was meant for individual advice, not a company policy. He emphasized that he himself hasn't sold any BTC, not even one Satoshi. Strategy's recent sale of 1,638 Bitcoin at $63,957 was intended to balance its holdings as a public company.
The move has been expected due to concerns over Strategy's aggressive BTC buying policy and use of high-yield instruments to fund purchases through STRC rollouts. Saylor initially doubled down on his celebrity BTC buys but eventually listened to critiques and restructured the purchases, reducing exposure to STRC and increasing the company's dollar reserve.
Strategy still holds 842,138 BTC acquired at an aggregate cost of roughly $63.5 billion, making it one of the largest BTC reserves in the world.