Key Takeaways
- • Strategy (MSTR) disclosed it sold 1,638 BTC for approximately $104.7 million last week, reducing total holdings to 842,138 BTC, according to The Block.
- • The sale funded preferred-stock distributions and repurchases of STRC, Strategy's perpetual preferred stock offering.
- • Michael Saylor said in a post to X that he has never sold his personal bitcoin, stating "Not one satoshi. Strategy is a public company, not my wallet."
- • Strategy's common stock traded around $94.78 at publication, down roughly 40% year to date and 70% over the past 12 months, after peaking above $400 per share in July 2025.
- • TD Cowen said the sale is consistent with management's priority of restoring STRC to near-par trading levels.
Summary
Michael Saylor said he has never sold his personal bitcoin, even as Strategy Inc. disclosed a sale of 1,638 bitcoin to fund preferred-stock distributions and repurchases of its STRC perpetual preferred stock. In a post to X, Saylor wrote: "When I say 'Never Sell Your Bitcoin,' I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet." He added that the company has disclosed since 2020 that it may buy or sell bitcoin to manage capital, and that the shared conviction in bitcoin remains unchanged.
According to The Block, the disclosure came a few hours before Saylor's post. Strategy said it sold 1,638 bitcoin for approximately $104.7 million last week, bringing its holdings to 842,138 BTC. The sale follows a 32 BTC reduction at the end of May, which The Block described as the first net reduction in the company's holdings that was not part of a tax-loss harvesting strategy. Strategy had built its reserve on a near-weekly basis over the past two years. It has since paused bitcoin acquisitions for five weeks ending July 26 and raised its USD reserve by $525 million to $3.75 billion.
The sales coincide with a sharp decline in Strategy's equity. Shares traded around $94.78 at publication time, according to The Block's equities data, after peaking above $400 per share in July 2025. The stock has fallen 40% year to date and 70% over the past 12 months.
TD Cowen wrote to clients that the move is consistent with management's stated priority of restoring STRC to near-par trading levels. The firm also said the recent Coldcard incident highlights a continuing shift from retail self-custody toward institutional bitcoin ownership and custody infrastructure.
According to The Block, the disclosure came a few hours before Saylor's post. Strategy said it sold 1,638 bitcoin for approximately $104.7 million last week, bringing its holdings to 842,138 BTC. The sale follows a 32 BTC reduction at the end of May, which The Block described as the first net reduction in the company's holdings that was not part of a tax-loss harvesting strategy. Strategy had built its reserve on a near-weekly basis over the past two years. It has since paused bitcoin acquisitions for five weeks ending July 26 and raised its USD reserve by $525 million to $3.75 billion.
The sales coincide with a sharp decline in Strategy's equity. Shares traded around $94.78 at publication time, according to The Block's equities data, after peaking above $400 per share in July 2025. The stock has fallen 40% year to date and 70% over the past 12 months.
TD Cowen wrote to clients that the move is consistent with management's stated priority of restoring STRC to near-par trading levels. The firm also said the recent Coldcard incident highlights a continuing shift from retail self-custody toward institutional bitcoin ownership and custody infrastructure.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.