Svmuu News: Jiang Zhuoer posted on X that Strategy has sold 3,588 Bitcoin, raising approximately $216 million, and noted that this marks the company’s first large-scale sale of tokens.
He noted that, given the company still holds approximately $2.55 billion in cash reserves—enough to cover 17.6 months of interest expenses—the decision to proactively sell Bitcoin rather than raise capital through a common stock offering is viewed as a significant shift from its “never sell Bitcoin” strategy.
Jiang Zhuo’er believes this move may signal an adjustment to the company’s capital strategy and questions whether selling BTC without replenishing positions will lead to a “decrease in BTC holdings per share.” He speculates that the 20,000 BTC already approved by the shareholders’ meeting will likely be sold in full,He further speculates that Strategy may be using part of its “Bitcoin” for phased capital allocation, which could even impact its long-term market narrative of “continuously buying BTC.”