Strategy is shifting strategies as the Bitcoin behemoth seeks to quell fears over its financial health. On Monday, the company announced that it may sell up to $1.25 billion in Bitcoin to build its cash reserves, cover investor payouts, and fund stock buybacks to avoid issuing more equity.
The new policy is an about-face for Strategy, which has established itself as one of the biggest buyers of the world’s largest cryptocurrency. Michael Saylor, the company’s executive chairman and a prominent Bitcoin bull, has repeatedly proclaimed that investors should never sell their holdings. “You do not sell your Bitcoin,” he said last October.
