For years, Strategy (MSTR), formerly MicroStrategy, built its reputation on one simple idea: buy Bitcoin (BTCUSD) and never sell it. That changed last week when the company disclosed it sold $216 million worth of Bitcoin to help fund preferred stock dividends. The move surprised investors because it marked a shift from the company's long-standing buy-and-hold strategy.
Strategy said it sold 3,588 Bitcoin last week under a new treasury framework aimed at supporting preferred stock obligations and boosting liquidity. The sale reduced its holdings to 843,775 Bitcoin, acquired at an average cost of $74,476 per token.
