Saylor once clearly declared a strict no-sell policy on Bitcoin, but this year, the strategy has already sold Bitcoin in two rounds totaling 3,620 coins to pay dividends on 12% annual preferred stock. This week, the Bitcoin reserve remains unchanged at 843,775 coins—not because it’s unnecessary, but because the company just sold Bitcoin aggressively just two weeks ago. 🔹 Previously, the only sale in four years was 704 coins in December 2022, before Saylor himself tweeted in February 2025: “Never sell your Bitcoin.” 🔹 In May 2026, it quietly sold 32 coins—the first sale in nearly four years. 🔹 From June 29 to July 5, it sold another 3,588 coins for $216 million to cover STRC dividend payments. 🔹 On June 29, the board formally approved, for the first time, a program allowing up to $1.25 billion in sales—roughly 2.5% of its reserve. 🔹 From July 13–19, it raised $263.5 million by selling MSTR shares instead, leaving the Bitcoin reserve stagnant at 843,775 coins while cash reserves surged to $3.225 billion. Is Strategy’s current “no sell” still a binding promise—or merely waiting for the next squeeze from preferred stock dividends to trigger another sale?