Strategy Sells Another $100 Million Worth of Bitcoin, But Remains Bullish on BTC

Michael Saylor's company, Strategy (formerly MicroStrategy), has been selling Bitcoin again. This is the fifth time this year that the company has recorded significant sales of BTC, with its latest sale amounting to $100 million in August.

The concern among investors is understandable given that Strategy holds 840,447 BTC, which accounts for about 4% of all BTC in circulation. However, Bernstein, an investment firm, recently pointed out that the fears over a potential implosion of the Bitcoin treasury company model are likely overblown.

Strategy still intends to be a net buyer of Bitcoin going forward, despite its recent sales. In fact, the company's dollar cash reserves are rising, and it claims to have more than enough to handle all future cash obligations, such as payments on its preferred stock dividend.