Daily Crypto Deep Dive: Strategy Is Selling Bitcoin — Is Michael Saylor Contr

Strategy has sold another 1,638 Bitcoin for approximately $104.7 million, using the proceeds to fund preferred-share dividends and repurchase its STRC preferred shares.

That brings Strategy’s reported Bitcoin sales since late May to 5,258 BTC—and raises an uncomfortable question for Michael Saylor.

For years, Saylor has argued that Bitcoin’s limited supply, growing institutional demand and long-term holders could create an enormous supply shock. He also dismissed concerns about Strategy selling Bitcoin, claiming the company expected to purchase roughly 20 Bitcoin for every coin it sold.

However, the latest numbers reveal a much more complicated reality.

In this Daily Crypto Deep Dive, we examine why Strategy is selling Bitcoin, how its preferred-share obligations work and whether the company’s increasingly complex capital structure is becoming dependent on its Bitcoin treasury.

We also ask whether Saylor’s actions now contradict his public messaging, whether corporate Bitcoin holdings can truly be considered permanently removed from circulation and what could happen if Strategy continues selling while its Bitcoin purchases slow down.

Strategy still owns more than 842,000 Bitcoin, so this is not evidence that the company is abandoning Bitcoin. However, it proves that the company’s holdings are not untouchable.

Is this simply disciplined treasury management—or the beginning of a major change in the Michael Saylor Bitcoin model?