(July 6): Michael Saylor’s Strategy Inc sold US$216 million ($279.3 million) of bitcoin last week, marking the first major step in the financing overhaul the company unveiled in recent days after a prolonged slump in the cryptocurrency and its own shares.
The transaction is the company’s largest bitcoin sale since it began building its holdings in 2020 and only its third overall. Strategy shares fell about 2% in pre-market trading Monday, while bitcoin traded 1.3% lower at around US$61,800, well below the firm’s average purchase price of about US$75,000 per token.
For years, Strategy’s business model rested on a simple premise: raise capital, buy bitcoin and don’t sell it. The latest transaction marks the clearest sign yet that the company is moving toward a more flexible approach in which the token becomes another source of liquidity alongside equity and debt markets.
Last week, Strategy gave itself broader authority to preserve liquidity, repurchase discounted securities and sell bitcoin when issuing new stock becomes less attractive. The changes followed a sharp decline in both the price of bitcoin and Strategy’s common and preferred shares that eroded the financing advantage underpinning its acquisition strategy.
Strategy recorded an US$8.32 billion loss on digital assets in the three months to June 30, its release on Monday said. Bitcoin fell 14% during the latest quarter and was down more than 45% at the end of June from a year earlier.
Strategy’s latest bitcoin sale also carries implications beyond one company. The company had become one of bitcoin’s largest and most consistent corporate buyers, helping underpin institutional demand during the bull market. As purchases become more selective and bitcoin sales become part of its financing toolkit, investors are reassessing one of the market’s most influential sources of demand.
See also: Trump reports at least US$1.4 bil in 2025 crypto earnings
Saylor had long argued that companies should accumulate bitcoin en masse, helping turn Strategy from a little-known enterprise software company into the cryptocurrency’s largest corporate holder. As the crypto bear market shows no signs of easing, the latest transaction signals that preserving financial flexibility has become as important as expanding the company’s bitcoin holdings.
Uploaded by Magessan Varatharaja
