Strategy Sells 1,638 Bitcoin for $105 Million, Reduces Holdings
Strategy, a publicly traded company chaired by Michael Saylor, sold 1,638 Bitcoin today for approximately $105 million. This sale reduced its total assets to 842,138 BTC, with an average cost of $75,419 per coin.
The proceeds from the sale were used to finance preferred stock distributions and the repurchase of STRC shares. Strategy had previously stated that it could sell Bitcoin when necessary to manage capital needs.
In a statement following the development, Saylor clarified his stance on selling personal Bitcoins. He emphasized that his phrase 'Never sell your Bitcoin' was directed at individual savers, not companies like Strategy.
Saylor maintained that Strategy's fundamental belief in Bitcoin has not changed, and the company can buy or sell BTC to manage its capital as needed.