Michael Saylor’s Strategy sells $216M of Bitcoin – Business News
Strategy, the biggest company crypto hoarder, offered $216 million of Bitcoin final week – a signal that it’s abandoning co-founder Michael Saylor’s “Never sell your Bitcoin” mantra as a slumping digital asset market hits its own shares.
It marked the company’s largest Bitcoin sale because it began building up its large holdings in 2020, and solely its third sale total because it makes a onerous pivot to a more versatile investment strategy – treating the token as simply one other source of liquidity.
Bitcoin ticked up 0.4% Monday to $63,870.52 – nonetheless far beneath the firm’s average buy price of roughly $75,000 per token.
MicroStrategy co-founder Michael Saylor at a White House summit on digital belongings on March 7, 2025. Bloomberg by way of Getty Images
Lacie Zhang, analysis analyst at Bitget Wallet, mentioned the sale doesn’t come as a full shock since Strategy had beforehand signaled that Bitcoin gross sales have been a risk if needed.
“What matters more is that each actual sale weakens the ‘never sell’ perception around the Bitcoin treasury model and brings capital structure pressure back into focus,” Zhang informed The Post.
Formerly generally known as MicroStrategy, the firm has adopted an intense shopping for strategy targeted on raising capital, shopping for Bitcoin and holding onto it — incomes it a popularity because the main so-called “crypto-treasury” company.
Under Saylor, who stepped down as CEO in 2022, that “crypto-treasury” model inspired crypto bulls to buy shares of the firm in hopes that Bitcoin would proceed to rise and their winnings can be multiplied.
But as a substitute, the unstable market has taken a flip for the more severe – sending Strategy’s stock down 75% over the previous yr.
“The market is finally forcing these companies to choose between holding their digital assets or keeping their investors happy with cash. They chose cash,” William Stern, founder and chief government of financial firm Cardiff, informed The Post.
Bitcoin fell 14% in the newest quarter, inflicting Strategy to endure an $8.32 billion loss on digital belongings. Hans Lucas/AFP by way of Getty Images
In the most recent quarter, as Bitcoin fell 14%, Strategy suffered an $8.32 billion loss on digital belongings.
The company is now value roughly $35 billion – a sharp drop from its peak of round $128 billion final yr.
Big-name traders like Peter Thiel, who backed a number of crypto-treasury corporations, have additionally been hit onerous by the sell-off.
June marked the worst month on report for US spot Bitcoin ETFs, with about $4.06 billion in web outflows – topping the earlier report of $3.56 billion in February 2025, in accordance with Bitfinex analysts.
Jake Kennis, senior analysis analyst at Nansen, famous that Strategy’s sale final week has but to set off a broader sell-off – signaling the market could be more resilient than initially anticipated.
However, “that does not mean the overhang is gone. We still expect excess leverage and the broader DAT [Digital Asset Treasury] unwind to continue playing out, which could include further corporate selling,” Kennis informed The Post.
Strategy is seemingly abandoning Saylor’s mantra to “never sell your Bitcoin.” Bloomberg by way of Getty Images
Strategy’s sale might immediate particular person traders to reassess their holdings of Bitcoin, which has already suffered some brutal trading this yr.
Analysts have already warned that more draw back might be in store for crypto as traders look to free up further liquidity as they pivot to large AI IPOs.
SpaceX’s IPO final month marked the largest-ever stock market debut, and analysts expect OpenAI and Anthropic to make related waves with IPOs later this yr or in early 2027.
