Strategy Ditches 'Never Sell' Era with $104.73M Bitcoin Sale

Strategy, a company led by Michael Saylor, has sold Bitcoin again, sparking debate about whether its 'never sell' era is over. The company disclosed that it sold 1,638 BTC between July 27 and August 2 for $104.73 million at an average price of $63,957 per coin.

The sale was part of Strategy's June 29 Bitcoin Monetization Program, which allows the company to sell BTC to build or replenish its USD Reserve, pay preferred dividends, or finance repurchases of preferred and common shares. The proceeds from the sale were allocated to preferred-stock dividends and STRC repurchases.

The sale represented about 0.19% of Strategy's Bitcoin holdings immediately before the transaction and was not a liquidation event. However, it marked a shift in the company's policy, as it now values flexibility alongside accumulation.