Home Michael Saylor Defends Bitcoin Sale Amid STRC Push

Michael Saylor Defends Bitcoin Sale Amid STRC Push

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Michael Saylor Defends Bitcoin Sale Amid STRC Push
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Michael Saylor has spoken out for the first time since Strategy sold a small part of its Bitcoin holdings to pay dividends on its preferred stock product, STRC.

In a post on X, the company’s Executive Chairman said Strategy aims to make STRC “the best credit instrument in the world.” This statement followed the firm’s disclosure that it sold 32 BTC worth about $2.5 million last week.

The company’s filing says the sale proceeds will go toward paying distributions on preferred stock. Although the amount sold is small compared to Strategy’s large Bitcoin reserves, the move has sparked discussion in the crypto community since the company is known for buying, not selling, BTC.

Many investors view Saylor’s recent comments as a sign that Strategy is working to balance its Bitcoin approach with shareholder returns. The company has often said its goal is not just to own the most Bitcoin, but to boost Bitcoin exposure per share and create long-term value for investors.

The sale has also brought back a familiar debate among crypto traders. Some social media users joke that Strategy often buys Bitcoin near market peaks. The company’s last Bitcoin sale was in late 2022, when BTC was trading near its cycle lows after the FTX collapse.

This recent sale happened at an average price of about $77,135 per Bitcoin. Since BTC is now trading below that level after recent volatility, some market watchers wonder if Strategy has once again sold near a market bottom.

 

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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