Morning Minute: Saylor Sells Bitcoin Again
Summary
Strategy sold 1,638 BTC for about $104.7 million, lowering holdings to 842,138 BTC and realizing a loss versus its cost basis. It also sold about $291 million in MSTR shares. Proceeds were used to fund preferred-stock dividends, repurchase STRC preferred shares, and boost cash reserves to roughly $4 billion. The move suggests Bitcoin is being sold and common shareholders diluted to support Strategy’s preferred stock structure, which has traded below par. Michael Saylor’s messaging has also shifted away from “never sell” rhetoric, emphasizing that Strategy is a public company that may buy or sell BTC to manage capital. Despite a large hack and these sales, Bitcoin’s price stayed flat for the week, hinting at market resilience.
