- Michael Saylor’s Strategy sold 3,588 BTC for $216 million, marking its first major sale after six years of accumulation.
- The sale occurred at an average price of roughly $60,200 per BTC, which is significantly below the company’s cost basis of nearly $75,700.
- The move directly contradicts Saylor’s long-standing public doctrine of never selling, which he has repeatedly promoted on social media.
On July commonly referred to as Saylor announced a $216 million Bitcoin sale to fund dividends. This marks a significant reversal for the executive, who built a corporate identity around perpetual accumulation. The sale was executed after a 52% drawdown from Bitcoin’s October 2025 high and a 20% decline from Strategy’s cost basis.
Saylor spent years insisting this moment would never come, having posted, “Never sell your BTC.” He even told followers to “Sell a kidney if you must, but keep the BTC.” Consequently, the current unwind directly contradicts his permabullish doctrine. The company framed the sale as necessary to fund dividends on its preferred shares, which it calls “Digital Credit.”
However, the company had already authorized a program to sell up to $1.25 billion worth of BTC last week. This latest transaction of 3,588 BTC is its first meaningful installment. Meanwhile, the price of Bitcoin declined by roughly $20 billion in market cap shortly after the disclosure. The sale also highlights a failure of Saylor’s repeated prediction that BTC would compound at 30% annually.
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