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.
Strategy’s Bitcoin Offloading Has Increased Recently
In June, the company made its first Bitcoin sale since 2022, marking a sharp departure from its long-standing accumulation strategy.
Strategy now holds 840,447 Bitcoin for an aggregate purchase price of approximately $63.36 billion, the company said in a regulatory filing.
“Strategy sold another 1,690 BTC last week for $108.6M at an average of $64,262, and sold $653 million worth of discounted $MSTR shares, to raise cash to pay future dividends and buy back $STRC, reducing the YTD Bitcoin yield to just 1.7%, an 87% reduction since May 25th. Ouch!” Schiff noted in a separate post.
Institutional TMT research analyst Nicholas Mugalli said in a post on X, “Selling BTC below its average cost basis to buy back $STRC preferred shares breaks the sacred ‘never sell’ thesis.”
