Strategy's Bitcoin Sales Strategy

Michael Saylor, chairman of Strategy, published an essay on the advantages of Bitcoin over gold and fiat currencies. He argues this based on the unique properties of the digital network.

Saylor compares assets, noting the drawbacks of traditional stores of value. Gold is difficult to store and transport, while government money is subject to inflation and censorship.

Bitcoin is presented as a network without a central issuer with a fixed supply of 21 million coins. It is software that unites miners, engineers, and users into a single ecosystem.

Parallel to the publication of these points, Strategy sold 6,916 BTC for $429 million over six weeks. The transactions were made without subsequent purchases of new coins.

The average selling price was $64,262 against an average purchase price of $75,385. The assets are being sold at a loss to fund the buyback of STRC preferred shares.

Previously, Michael Saylor promised not to sell Bitcoin until its price fell below $8,000. After the initial sales, he planned to repurchase assets, but the current strategy has changed.