The Bitcoin treasury firm Strategy (MSTR) has now gone three consecutive weeks without buying any BTC.
On Monday, Strategy Chairman Michael Saylor announced the company increased its US dollar reserve by $450 million over the past week but opted not to buy any new Bitcoin.
Over the two weeks prior, the firm sold a total of 3,588 BTC for $216 million. The sales, which sparked headlines across the crypto sector, materialized under the Strategy’s newly introduced BTC monetization program, designed to bolster the firm’s cash reserve and support dividend payments.
The firm still holds 843,775 Bitcoin worth $52.47 billion at time of writing, as well as $3 billion in cash reserves.
In May, Strategy sold 32 BTC worth $2.47 million, the company’s first Bitcoin sale since 2022, when the firm’s subsidiary, MacroStrategy, hawked 704 BTC for approximately $11.8 million.
The May sale marked a dramatic shift in tone for Strategy after Saylor spent years encouraging investors to “never sell” their BTC.
He did tip that a sale could happen, however, suggesting in a first-quarter earnings call that the firm would “probably sell some Bitcoin to fund a dividend just to inoculate the market – just to send the message that we did it.”
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC by a wide margin.
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