Strategy says it may sell up to 1.25 billion of bitcoin in financing overhaul
Strategy $MSTR, the largest corporate bitcoin holder, said it may sell up to $1.25 billion of bitcoin to build cash and fund buybacks, a reversal of the buy-and-hold stance Michael Saylor built the firm on. The filing commits to nothing, but the option alone is a signal crypto ho
Strategy $MSTR, the company formerly known as MicroStrategy and the largest corporate holder of bitcoin, said on Monday it may sell up to $1.25 billion of its bitcoin to strengthen its cash position, cover investor payouts and fund share buybacks. For a company that built its identity on Michael Saylor's pledge to buy and never sell, simply granting itself the authority to sell is the headline. The plan is part of a broader overhaul of the financing model that fueled years of aggressive bitcoin accumulation. Alongside the potential sale, Strategy authorized two separate buyback programs of up to $1 billion each, one for its common stock and one for its preferred and digital-credit securities. The company was careful to stress that the framework does not obligate it to sell any bitcoin, and that any sale would depend on market conditions and liquidity needs. Strategy currently holds about $2.55 billion in cash, and a full sale would lift that to roughly $3.80 billion. The shift matters because crypto investors have long watched Strategy's holdings as a potential source of selling pressure on the wider market. A firm that spent years presenting itself as a permanent buyer now has an explicit mechanism to do the opposite. Whether or not it acts, the change in posture is what market participants will be weighing.