Strategy (NASDAQ: MSTR) Sells Bitcoin At A Loss As It Shifts Away From Its "Never Sell" Stance

Strategy (NASDAQ: MSTR), the world’s largest corporate holder of Bitcoin, has reversed course on its long-held policy of never selling the cryptocurrency it has accumulated since 2020.

The company sold 1,690 BTC for $108.6 million in the week ending August 9, leaving 840,447 coins remaining in its treasury.

All proceeds from that sale were directed toward a $108.6 million buyback of STRC preferred shares, the third transaction under a $1 billion repurchase program.

The Bitcoin was sold at an average price of $63,957 per coin, roughly $11,500 below the company’s cost basis of $75,419, meaning Strategy is actively selling at a loss.

Strategy has not purchased any Bitcoin since June 22, marking its longest pause from accumulation since the company began its aggressive buying strategy years ago.

Since May, the company has sold a total of 6,948 BTC for approximately $432.5 million, consuming a substantial portion of its self-imposed $1.25 billion disposal limit.

The selling began in late May when Strategy disposed of 32 BTC for $2.5 million to fund preferred stock distributions, its first Bitcoin sale since December 2022.

CEO Phong Le stated in May that Strategy could sell Bitcoin when doing so would benefit shareholders, signaling a formal departure from the buy-and-hold doctrine the company had championed.