MicroStrategy CEO Clarifies 'Never Sell' Bitcoin Stance Was a Marketing Message
MicroStrategy (Nasdaq: MSTR), now known as Strategy, has paused its aggressive Bitcoin accumulation strategy and clarified that the company's previous stance of never selling Bitcoin was primarily a marketing message. The software-turned-crypto-holding firm had built up significant BTC reserves since 2020 by raising capital through stock and debt offerings to purchase cryptocurrency. According to an SEC filing, Strategy did not buy or sell any Bitcoin between August 31 and September 7, following several weeks of inactivity. The company currently holds approximately 845,050 BTC at a cost basis averaging $75,412 per coin. Earlier this year, it sold over 3,500 BTC for about $216 million. CEO Phong Le explained that the 'never sell' message was not an absolute corporate policy but rather aimed to resonate with individual investors who might hold Bitcoin long-term or pass it on as inheritance.
Tickers: $MSTR
Topics: Bitcoin Capital Allocation Investment Strategy MicroStrategy (MSTR)