Michael Saylor’s Strategy Resumes Bitcoin Sales, Selling $105M Worth of BTC
Michael Saylor’s Bitcoin treasury firm Strategy (MSTR) sold 1,638 BTC worth $105 million in the past week, continuing a trend started earlier this summer.
The sale followed a three-week period with no Bitcoin transactions, and before that, a two-week period when it sold 3,588 BTC for $216 million. These sales are part of Strategy’s new BTC monetization program, which aims to strengthen cash reserves and fund dividend payments.
Chairman Michael Saylor noted that the firm increased its US dollar reserve by $250 million and repurchased $81 million worth of STRC, the firm’s perpetual preferred stock paying 12.00% annual dividends. STRC is designed with a par value of around $100 but currently trades at $92.32.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate BTC holder by a wide margin. The recent sales mark a shift from Saylor’s earlier “never sell” stance. Addressing this, Saylor clarified: “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. Since 2020, it has disclosed it may buy or sell $BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.”