Michael Saylor: “We Never Said We’d Never Sell Bitcoin”

Strategy Chairman Michael Saylor said the company had never made a commitment to never sell its Bitcoins, but expected to remain a net Bitcoin buyer in the long term.

Saylor’s statement came after reports that Strategy had received new authorization allowing it to sell up to $5 billion worth of Bitcoin. Responding to these claims, Saylor stated that the sales authorization was not new and had been announced on June 29th as part of the company’s capital management framework.

Saylor stated, “Old news is being presented as new. Strategy announced this authorization on June 29th as part of its capital management framework. This arrangement permits the sale of $BTC for the stated purposes but does not compel the company to sell. No new authorization has been announced, and we expect to continue to be a net Bitcoin buyer over time.”

Saylor stated that Strategy’s Bitcoin monetization program does not require the company to sell its $BTC holdings, and noted that the company has never officially adopted a “$BTC will never be sold” policy.

*This is not investment advice.