The firm known as Strategy, led by Michael Saylor, offloaded 1,638 Bitcoin today, generating around $105 million and bringing its total Bitcoin holdings down to 842,138 $BTC. In the aftermath of the transaction, Saylor emphasized that his personal investments in Bitcoin should be regarded separately from the financial management policies of Strategy, a publicly traded entity.
As per the latest information released by Strategy, the Bitcoins were sold at an average rate of $63,957 each. This latest move has lowered the firm’s total Bitcoin holdings to 842,138 $BTC, resulting in a total asset cost of approximately $63.5 billion. The average acquisition cost of Bitcoin for Strategy stands at around $75,419.
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The revenue generated from this sale is said to be allocated for preferred stock distributions and the repurchase of STRC shares. The company has previously indicated its readiness to liquidate Bitcoin when necessary to address capital requirements, dividend distributions, debt interests, and buybacks of securities.
In light of this recent activity, Michael Saylor reiterated that his well-known advice, “Never sell your Bitcoin,” is intended for individual investors.
Saylor remarked, “When I mention never selling your Bitcoin, I’m reaching out from one investor to another. I have not sold any of my Bitcoin—not a single satoshi. Strategy operates as a publicly traded company; it isn’t my personal portfolio.”
He further explained that Strategy has been transparent since 2020 about its ability to buy or sell Bitcoin as necessary for capital management, asserting that the company’s underlying commitment to Bitcoin remains steadfast.
*This is not investment advice.