Strategy Defends Bitcoin Sale as Saylor Clarifies 'Never Sell' Message

Michael Saylor has responded to criticism over his company's sale of 1,638 BTC for $104.73 million, which sparked debate about his long-standing 'never sell' message.

The sale, which took place between July 27 and August 2, was made by Strategy as part of its capital management program to fund preferred-stock dividends and share repurchases.

Saylor clarified that his personal investment philosophy remains unchanged, but the advice only applies to his individual holdings, not the company's corporate treasury.

He noted that Strategy has disclosed the possibility of buying or selling Bitcoin as part of its capital management strategy since 2021, and a recent SEC filing explicitly authorizes Bitcoin sales for various purposes.