Strategy, the public company led by Bitcoin maximalist Michael Saylor, sold $200 million worth of Bitcoin this week. The move marks the first time the firm has ever liquidated a portion of its massive BTC holdings — a decision that immediately drew accusations of hypocrisy from the crypto community.
The sale
According to filings, Strategy offloaded roughly 3,200 BTC at an average price around $62,500. The company still holds over 200,000 Bitcoin, worth roughly $12.5 billion at current prices. Saylor has long preached a never-sell philosophy, famously saying he would hold Bitcoin “for the next 100 years.”
Saylor's response
On X, Saylor responded directly to the criticism. He wrote that he has “never personally sold a satoshi,” drawing a line between his personal holdings and the corporate treasury decisions of Strategy. The distinction didn't satisfy many critics, who pointed out that Saylor controls the company and its Bitcoin strategy.
Why now?
The company didn't give a specific reason for the sale. Some observers noted that Strategy's stock has been under pressure this quarter, and the cash could be used to fund operations or buybacks. Others speculated it might be a hedge against margin calls on the company's convertible debt. Saylor hasn't elaborated beyond his personal defense.
Strategy's next earnings call is scheduled for August 12. Investors will be watching for any further explanation — and whether this was a one-off or the start of a new approach to the company's Bitcoin treasury.
