The Bitcoin treasury firm Strategy (MSTR) sold 1,690 BTC worth $109 million in the past week, its second consecutive week of sales.
Strategy sold 1,638 BTC worth $105 million the week before, and that sale was preceded by a three-week stretch when the firm didn’t buy or sell any Bitcoin.
The recent 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 noted Monday that the firm increased its US dollar reserve by $650 million in the past week. It also repurchased $109 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 $94.48.
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.”
Follow us on X, Facebook and TelegramGenerated Image: DALLE3
The post Michael Saylor’s Bitcoin Treasury Firm Strategy Hawks $109,000,000 Worth of BTC in Second Consecutive Week of Sales appeared first on The Daily Hodl.
