Michael Saylor: I Have Never Sold Any Bitcoin From My Personal Holdings

Michael Saylor says he has never sold any bitcoin he owns personally, drawing a clear line between his private holdings and Strategy Inc.'s corporate treasury. The comments came after Strategy (Nasdaq: MSTR) disclosed its third bitcoin sale of 2026, leaving the company with 842,138 BTC. Saylor, Strategy's executive chairman, said on Aug. 3 that he has never sold a single satoshi from his own stash. He positioned his "Never Sell Your Bitcoin" message as a personal principle shared among long-term savers, not a rule for how a public company must run its balance sheet. Strategy has stated since 2020 that it may buy or sell bitcoin as part of capital, liquidity and obligation management. Saylor also said on Aug. 1 that the company expects to remain a net bitcoin buyer over time, while using its BTC Monetization Program to add financial flexibility. He noted the program was announced June 29, ahead of the release of second-quarter results, and operates under a board-approved capital plan. Strategy formalized its approach on June 29 with a Digital Credit Capital Framework. The plan established a $2.55 billion dollar reserve and authorized up to $1.25 billion in additional reserve-building bitcoin sales. It also included repurchase programs of up to $1 billion each for preferred securities and MSTR common stock. In an SEC filing, Strategy listed three approved uses for bitcoin monetization: funding the dollar reserve, supporting preferred dividends and debt interest, and financing securities repurchases. Any transactions outside those purposes or beyond set limits require additional board approval. The program has no fixed end date. The framework provides $3.8 billion of liquidity coverage combining the existing reserve and authorized monetization capacity. Strategy said this equates to about 25.9 months of expected preferred dividend and interest expenses, with a minimum reserve threshold set at 12 months of those obligations. Strategy's 2026 sales show how the policy works in practice. Its first reported sale this year involved 32 bitcoin for about $2.5 million to help cover preferred stock dividend obligations, the company's first disposal since 2022. A larger sale followed: 3,588 bitcoin for roughly $216 million, an average of about $60,137 per coin. Strategy said the proceeds supported Digital Credit dividend payments, and the company reported holdings of 843,775 BTC after that transaction, alongside the $2.55 billion dollar reserve. Saylor has described the overall approach as active capital management, allowing Strategy to issue securities when conditions are favorable and repurchase them when management believes doing so better serves shareholders.