Michael Saylor's Strategy Fund: Bitcoin Sales Continue, Cash Reserve Hits $4.65 Billion

Michael Saylor's Strategy Fund sold Bitcoin for the third consecutive week. Last week, it sold 1,690 BTC, reducing its total holdings to 840,447. The average sale price was $64,262, representing a 14.7% decline. Strategy used the $108.6 million from these sales entirely for MicroStrategy (MSTR) stock buybacks, pushing the share price to $95. The firm's cash reserves now stand at $4.65 billion, providing a 2.7-year runway. Despite selling $1.9 billion worth of MSTR shares since July 1, the stock has rebounded by 20% and remains stable at $100. Strategy expects to halt Bitcoin sales once the cash pile grows and STRC stock nears par value. This move positions Strategy as a significant cash reserve in crypto and supports MSTR's stock performance. The strategy could become a tailwind for the firm as it approaches a potential breakout point.