- Strategy sold 1,638 BTC for $104.73 million as corporate obligations reshaped its policy.
- Three major 2026 sales removed 5,258 BTC despite earlier promises of endless accumulation.
- STRC dividends and share repurchases show how Wall Street financing overtook Bitcoin rhetoric.
Michael Saylor spent years promoting “never sell your Bitcoin” as personal advice and a defining principle of Strategy’s corporate identity. However, that message now faces its strongest test after the company sold 1,638 BTC for $104.73 million between July 27 and August 2.
The coins were sold at an average price of $63,957, reducing Strategy’s holdings to 842,138 BTC. The company had acquired those holdings for a combined $63.51 billion, placing its average purchase price at $75,419 per coin.
Unlike earlier wallet-transfer speculation, the disposal was confirmed in an August 3 filing with the U.S. Securities and Exchange Commission. That confirmation intensified scrutiny as many retail investors had come to associate permanent accumulation with both Saylor’s public image and Strategy’s corporate identity.
Against that backdrop, Peter Schiff, one of Bitcoin’s most vocal critics, argued that Saylor had encouraged that perception without clearly separating his personal position from the company’s treasury policy. Responding to Saylor’s defense that “never sell your Bitcoin” applied to personal savers, not Strategy’s treasury policy, Schiff wrote, “You knew the impression you were creating, and you never bothered to clarify it.”
Schiff further maintained that Saylor had either led investors to believe Strategy would never sell or was now revising his message to justify the disposals. However, Saylor’s supporters rejected that interpretation. They argued instead that informed investors understood the distinction between an individual’s savings strategy and the balance-sheet obligations of a public company.
Three 2026 Bitcoin Sales Redefined Strategy’s Treasury
The latest transaction marked Strategy’s third major Bitcoin sale of 2026, following two substantial disposals within five weeks. First, the company sold 1,363 BTC for $80.8 million between June 29 and June 30.
It then disposed of another 2,225 coins for $135.2 million during the first five days of July. However, the selling had begun earlier, when a smaller 32-BTC transaction in May became Strategy’s first disposal since 2022. Altogether, the company’s disclosed 2026 sales removed 5,258 BTC from its treasury.
That sequence contrasted with February remarks that the company was “not going to be selling.” Saylor also said it would continue buying every quarter “forever.” He later defended the distinction by saying the slogan addressed individual savers, not corporate treasury operations.
He stated that Strategy was a public company, not his wallet, and said he had never sold his own holdings. That defense has legal substance, as company disclosures had long permitted sales for treasury management and other corporate purposes.
Still, the dispute centered on whether earlier language clearly separated personal conviction from company policy.
STRC Dividends Turned Bitcoin Into a Corporate Funding Tool
The disposal exposed the financial machinery operating beneath the company’s maximalist branding. Strategy allocated $52.4 million of the proceeds to preferred-stock dividends and another $52.3 million to STRC repurchases.
At the same time, the company sold approximately 3.01 million MSTR shares for $290.6 million. It then combined proceeds from both operations to repurchase 912,143 STRC shares for $81.2 million.
These transactions reflected the growing financial demands created by STRC, which carries a 12% annualized dividend rate. Management intends to maintain that rate until the security trades sustainably near its $100 stated value.
Consequently, Strategy has authorized asset sales to fund preferred dividends, interest payments, dollar reserves, and securities repurchases. This policy gives the company greater flexibility to meet its obligations, although it also means its Bitcoin treasury can serve as a corporate funding source.
Those obligations became increasingly significant after preferred dividends reached $400.7 million during the second quarter. Moreover, the company reported an $8.22 billion net loss, driven primarily by an $8.32 billion unrealized loss on its holdings.
Did Saylor Mislead Investors or Clarify Company Policy?
The available record supports a narrower conclusion than either side’s strongest claim. Saylor’s statement about personal holdings remains consistent with his claim that he has never sold his own coins.
However, his sweeping public language blurred the boundary between individual saving advice and corporate balance-sheet management. The disclosures permitted sales, yet the company’s public identity emphasized accumulation.
Therefore, the controversy is not simply about whether one man sold Bitcoin. It concerns whether a memorable slogan created expectations that corporate financing could never honor.
The $104.73 million transaction showed that dividend obligations, security prices, and capital management can override absolutist messaging. The sale ultimately marked the moment maximalist branding met Wall Street engineering, and corporate obligations prevailed.
Related: Why Has Michael Saylor’s ‘Strategy’ Not Purchased Any Bitcoin Over the Past Month?
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
