Strategy Clarifies Bitcoin Sales as Treasury Management Option

Strategy Chairman Michael Saylor has pushed back on claims that the company reversed its stance on selling Bitcoin. He stated that any sale is merely an option for treasury management and does not change the long-term accumulation strategy.

The company introduced its Bitcoin Monetization Program on June 29, which allows it to sell Bitcoin if needed. However, Saylor clarified that Strategy has never had a policy of never selling Bitcoin.

Under the program, proceeds from Bitcoin sales can be used for various purposes such as bolstering dollar reserves, paying preferred stock dividends and debt interest, and repurchasing securities and common stock. Sales to raise dollar reserves are capped at $1.25 billion.

Strategy made a sale shortly after adopting the program, selling 3,588 Bitcoin for approximately $216 million between June 29 and July 5. The proceeds were used to pay preferred stock dividends and replenish dollar reserves.