February 2025, Michael Saylor: "Never sell your Bitcoin." 😂

August 2026, Michael Saylor: "We have never had a never-sell policy."

In between, Strategy sold 1,637 BTC last week at an average of $63,957. Before that, 3,588 BTC at $60,200 to fund dividends on preferred shares.

Their average cost basis is $75,700.

He's selling at a loss to pay 10-11% dividends on securities he issued to buy the thing he's now selling.

$8.22B quarterly loss. ~$11B unrealized. 842,138 BTC left.

The man who taught a generation to hold is now the one supplying the bids 🫡