The 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 was preceded by a three-week period during which 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 materialized under the Strategy’s newly introduced BTC monetization program, designed to bolster the firm’s cash reserve and support dividend payments.
Strategy chairman Michael Saylor notes the firm did increase its US dollar reserve by $250 million. It also repurchased $81 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 but is currently trading 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 holder of BTC by a wide margin.
The recent sales have marked a dramatic shift in tone for the firm after Saylor spent years encouraging investors to “never sell” their BTC.
Now, however, Saylor maintains that vocal never-sell approach was just in reference to his personal wallet.
“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.”
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The post Michael Saylor’s Strategy Resumes Bitcoin Sales, Hawking $105,000,000 Worth of BTC appeared first on The Daily Hodl.
The 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 was preceded by a three-week period during which 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
The post Michael Saylor’s Strategy Resumes Bitcoin Sales, Hawking $105,000,000 Worth of BTC appeared first on The Daily Hodl. Bitcoin, BTC, MSTR, News, saylor, strategy
This articles is written by : Nermeen Nabil Khear Abdelmalak
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