Michael Saylors Strategy sells $216M of Bitcoin as it abandons never sell mantra | Latest Tech News
Strategy, the biggest company crypto hoarder, bought $216 million of Bitcoin last week – a signal that it is 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 since it began building up its large holdings in 2020, and only its third sale general as it makes a onerous pivot to a more versatile investment strategy – treating the token as just another source of liquidity.
Bitcoin ticked up 0.4% Monday to $63,870.52 – still far below the firm’s average buy price of roughly $75,000 per token.
MicroStrategy co-founder Michael Saylor at a White House summit on digital property on March 7, 2025. Bloomberg via Getty Images
Lacie Zhang, research analyst at Bitget Wallet, said 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 told The Post.
Formerly recognized as MicroStrategy, the firm has adopted an intense shopping for strategy centered on raising capital, shopping for Bitcoin and holding onto it — incomes it a popularity as 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 continue to rise and their winnings could be multiplied.
But instead, the risky market has taken a flip for the more severe – sending Strategy’s stock down 75% over the past 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 govt of financial firm Cardiff, told The Post.
Bitcoin fell 14% in the most latest quarter, inflicting Strategy to undergo an $8.32 billion loss on digital property. Hans Lucas/AFP via Getty Images
In the latest quarter, as Bitcoin fell 14%, Strategy suffered an $8.32 billion loss on digital property.
The company is now value roughly $35 billion – a sharp drop from its peak of around $128 billion last yr.
Big-name traders like Peter Thiel, who backed a number of crypto-treasury firms, have also been hit onerous by the sell-off.
June marked the worst month on file for US spot Bitcoin ETFs, with about $4.06 billion in internet outflows – topping the earlier file of $3.56 billion in February 2025, according to Bitfinex analysts.
Jake Kennis, senior research analyst at Nansen, famous that Strategy’s sale last week has yet to set off a broader sell-off – signaling the market is likely to 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 told The Post.
Strategy is seemingly abandoning Saylor’s mantra to “never sell your Bitcoin.” Bloomberg via 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 last month marked the largest-ever stock market debut, and analysts predict OpenAI and Anthropic to make related waves with IPOs later this yr or in early 2027.
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