Saylor Defends Strategy's Bitcoin Sales Amid Share Buyback
Michael Saylor broke his silence regarding Strategy's third BTC sale in recent months. The company, which holds the largest corporate position of Bitcoin, announced it had disposed of another 1,638 units of BTC at $63,824 each.
This move follows similar sales in June and earlier this year, bringing the total amount sold to 4,226 units. Saylor emphasized that his personal investment strategy remains unchanged, stating 'Never sell your bitcoin,' although he clarified that Strategy is a public company and not his individual wallet.
As a publicly traded entity, Strategy has disclosed its intention to buy or sell BTC to manage capital since 2020. The sale of more BTC allowed the company to repurchase shares of its own stock, STRC, which has seen its price rebound from recent lows of $75 to around $92.
The par price of STRC remains at $100, but the swift recovery from its lowest point is a positive sign for investors.