Strategy Breaks 'Never Sell' Bitcoin Pledge Amid $10B Unrealized Loss

Saylor's Strategy, a company that has been vocal about its commitment to holding onto Bitcoin (BTC), is facing a tough second quarter after selling thousands of BTC to cover dividends. This move comes despite the company sitting on a $10 billion unrealized loss. The sale represents a break from the company's 'accumulate and never sell' stance.

The decision has drawn comparisons to the collapsed Terra/Luna project, with concerns raised about the company's debt structure. It appears that while Strategy preached holding onto BTC to its retail investors, it may have been selling off its own holdings behind the scenes.

The company's strategy is often associated with the 'HODL' narrative, which encourages investors to hold onto their coins rather than selling them in times of market downturn. However, it seems that Strategy was not adhering to this mantra itself.