Strategy Inc. Sells Another Large Batch of Bitcoin Amid Paper Losses

Strategy Inc., a Nasdaq-listed company, has sold off another batch of Bitcoin. Between July 27 and August 2, it offloaded 1,638 BTC at an average price of $63,957 per coin, generating $104.7 million in proceeds.

This is the second-largest sale by the company this year, bringing its total holdings to 842,138 BTC, which were acquired at a cost of around $63.5 billion and have an average purchase price of roughly $75,400.

The sales come as Strategy faces paper losses of just under $11 billion on its Bitcoin holdings, given the current market price of around $62,400 per coin.

This is in stark contrast to the company's previous messaging from founder and Executive Chairman Michael Saylor, who had repeatedly stated that there was no exit strategy for Strategy's Bitcoin holdings and that the company would never sell.