Saylor Dismisses $5 Billion Bitcoin Sale Claims as 'Old News'

Strategy Inc., the company led by Michael Saylor, has pushed back against claims that it authorized up to $5 billion in Bitcoin sales. The executive chairman said this week that the reported authorization was actually an existing capital-management tool and not a new decision.

The Digital Credit Capital Framework, announced on June 29, permits Bitcoin sales for defined corporate purposes but requires no immediate sales at this time. This framework allows Strategy to balance its Bitcoin holdings with funding requirements tied to its growing portfolio of preferred securities.

Recent sales under the framework have funded preferred dividends and rebuilt cash reserves. In July, Strategy sold 3,588 Bitcoins for $216 million as part of this process, which was recorded in a filing with the U.S. Securities and Exchange Commission (SEC). The company has also issued common stock without purchasing additional Bitcoin to increase cash reserves and liquidity.

Michael Saylor emphasized that Strategy has never maintained a 'never sell' policy under the framework, which requires no Bitcoin sales at this time. He added that the company expects to remain a net buyer over time, retaining $1.25 billion in unused reserve-building capacity.