Strategy Unloads $105 Million in BTC as Saylor Clarifies Company Policy

Michael Saylor's Strategy, the world's largest corporate holder of BTC, has continued its trend of selling Bitcoin. In the past week alone, the firm sold 1,638 BTC worth $105 million, bringing the total to over $216 million since June. This marks a significant shift in tone for Strategy, which had previously been vocal about never selling its BTC.

Saylor clarified that his previous 'never sell' message was only meant for his personal wallet and not for the company. He noted that Strategy has disclosed its intention to buy or sell BTC since 2020 to manage capital. The firm increased its US dollar reserve by $250 million and repurchased $81 million worth of STRC, a perpetual preferred stock with a par value of around $100.

The sale was facilitated by Strategy's newly introduced BTC monetization program aimed at bolstering the company's cash reserve and supporting dividend payments. Saylor emphasized that the firm's conviction in Bitcoin remains unchanged.