- Strategy sold 1,690 Bitcoin for roughly $108.6 million last week, marking its second sale of 2025 and a continued shift from its long-standing accumulation policy.
- The firm now holds 840,447 BTC worth an aggregate purchase price of $63.36 billion, though its year-to-date Bitcoin yield has dropped 87% since May.
- Critics, including Bitcoin skeptic Peter Schiff, argue the sales indicate lenders lack confidence in using Bitcoin as collateral, forcing Strategy to sell for cash.
Strategy (MSTR) disclosed in a regulatory filing that it sold 1,690 Bitcoin for approximately $108.6 million between August 3 and August 9, at an average price of $64,262 per coin.
The company now holds 840,447 Bitcoin purchased for an aggregate $63.36 billion, according to the filing.
In June, Strategy executed its first Bitcoin sale since 2022, a sharp departure from its previous accumulation strategy.
Longtime Bitcoin critic Peter Schiff noted on X that the sale suggests co-founder Michael Saylor has “given up on the idea of digital credit.”
Schiff argued that Strategy is “consistently selling Bitcoin now to buy dollars, as lenders don’t have confidence in Bitcoin as collateral.”
He added: “It seems @Saylor has given up on the idea of digital credit. $MSTR is consistently selling Bitcoin now to buy dollars, as lenders don’t have confidence in Bitcoin as collateral.”
Schiff also stated that the firm sold $653 million in discounted MSTR shares to raise cash for future dividends and buy back $STRC preferred shares.
Institutional analyst Nicholas Mugalli posted on X that selling Bitcoin below its average cost basis to repurchase preferred shares “breaks the sacred ‘never sell’ thesis.”
He added: “$MSTR is no longer just a levered Bitcoin proxy—it’s an active credit engine where common equity dilution and selective BTC sales are the mandatory price paid to keep the capital structure afloat.”
Meanwhile, retail sentiment on Stocktwits shifted from ‘bullish’ to ‘neutral’ over 24 hours amid normal message volumes.
One user questioned: “Why does it appear that Saylor is dumping bitcoin slowly and carefully to avoid a larger market selloff before while he unloads?”
MSTR stock has fallen more than 38% so far in 2026.
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