MSTR Sells Bitcoin Worth $108.6M: Peter Schiff Says Saylor Has Given Up On ‘Digital Credit’

Strategy now holds 840,447 Bitcoin for an aggregate purchase price of approximately $63.36 billion, the company said in a regulatory filing.

• Strategy said it had sold 1,690 Bitcoin for about $108.6 million at an average sale price of $64,262 between August 3 and August 9. 
• In June, the company made its first Bitcoin sale since 2022, marking a sharp departure from its long-standing accumulation strategy.
• Bitcoin critic Peter Schiff said the sale suggests Saylor has abandoned the idea of “digital credit,” arguing that MSTR is increasingly selling Bitcoin for cash because lenders lack confidence in using BTC as collateral.

Strategy (MSTR) announced on Monday that it had sold 1,690 Bitcoin (BTC) for about $108.6 million at an average sale price of $64,262 between Aug. 3 and Aug. 9. 

Financial commentator and longtime Bitcoin critic Peter Schiff noted the sale in a post on X, adding that, “It seems @Saylor (Co-founder Michael 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.”

“They prefer ‘good’ old-fashioned fiat money as superior protection. Sell MSTR and sell Bitcoin now!” he said.