Strategy Unloads $105M in Bitcoin Sales Amid New Monetization Program

Michael Saylor's Strategy (MSTR) has resumed its Bitcoin sales trend, unloading $105 million worth of BTC in the past week. This move comes after a three-week period where the firm didn't buy or sell any Bitcoin and a two-week period before that when it sold a total of 3,588 BTC for $216 million.

The sales are part of Strategy's newly introduced BTC monetization program aimed at bolstering its cash reserve and supporting dividend payments. The firm has increased its US dollar reserve by $250 million and repurchased $81 million worth of STRC, the firm's perpetual preferred stock that pays 12.00% annual dividends.

Strategy is the world's largest corporate holder of BTC by a wide margin, having adopted Bitcoin as its sole treasury reserve asset in 2020. In response to the recent sales, Saylor clarified his stance on holding onto Bitcoin, stating 'When I say “Never Sell Your Bitcoin,” I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet.'

The firm's decision to sell BTC has marked a dramatic shift in tone from Saylor's previous encouragement to 'never sell' their BTC, which he now maintains was only applicable to his personal wallet.