Saylor's Bitcoin Sales Suggest Shift Away from 'Digital Credit' Concept

Michael Saylor's company, Strategy (MSTR), has sold 1,690 Bitcoin for about $108.6 million at an average sale price of $64,262 between August 3 and August 9.

This marks a departure from the company's long-standing accumulation strategy and follows a similar sale in June when they made their first Bitcoin sale since 2022.

Strategy now holds 840,447 Bitcoin for an aggregate purchase price of approximately $63.36 billion.

Bitcoin critic Peter Schiff attributed the sale to Saylor giving up on the idea of 'digital credit', saying lenders lack confidence in using BTC as collateral and prefer 'good' old-fashioned fiat money.