Strategy Ties Up Loose Ends with Another Potential BTC Sale

Michael Saylor's company Strategy recently moved 1,030 BTC worth $66.14 million from one of its wallets, sparking speculation about another potential sale. The transfer comes just days after the company confirmed its third bitcoin sale of the year, which saw it sell 1,638 BTC for approximately $104.7 million between July 27 and Aug. 2 at an average price of $63,957 per coin.

The company's expanded bitcoin monetization program, part of its Digital Credit Capital Framework, authorizes up to $5 billion in bitcoin sales. This marks a sharp reversal from Strategy's past behavior, having spent more than five years as the most aggressive corporate accumulator of BTC and previously vowing never to sell.

Proceeds from the recent sales were used 'to fund payment of distributions on preferred stock and to fund repurchases of STRC,' according to the company. The disposals fall under its bitcoin monetization program, which has only seen about $105 million in sales so far.