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Strategy, chaired by Michael Saylor, sold 1,638 Bitcoin today for approximately $105 million, reducing its total assets to 842,138 $BTC. Following the sale, Saylor stated that his personal Bitcoin investments and Strategy’s capital management policies as a publicly traded company should be kept separate.
According to Strategy’s official data, the company sold its Bitcoins at an average price of $63,957. This reduced the company’s total Bitcoin holdings to 842,138 $BTC, and the total cost of these assets to approximately $63.5 billion. Strategy’s average cost per Bitcoin is currently $75,419.
The proceeds from the sale were reportedly used to finance preferred stock distributions and the repurchase of STRC shares. Strategy had previously stated that it could sell Bitcoin when necessary to manage capital needs, dividend payments, debt interest, and securities buybacks.
Following the development, Michael Saylor stated that his frequently used phrase, “Never sell your Bitcoin,” was directed at individual savers.
Saylor stated, “When I say never sell your Bitcoin, I’m speaking from one saver to another. I have never sold my Bitcoin. Not a single satoshi. Strategy is a publicly traded company, it’s not my wallet.”
Saylor argued that Strategy has publicly stated since 2020 that it can buy or sell Bitcoin to manage its capital, and maintained that the company’s fundamental belief in Bitcoin has not changed.
*This is not investment advice.
cointelegraph.com