Michael Saylor, the founder of Strategy and one of Bitcoin’s best-known advocates, posted a “correction” on X on Aug. 2 saying the company never had a formal “never sell” Bitcoin policy.
Saylor wrote that Strategy announced its BTC Monetization Program on June 29, which he said was 31 days before the company released its second-quarter results, not after posting a loss. He added that the program does not require any Bitcoin sale and that Strategy expects to remain a net buyer of Bitcoin over time.
“Correction: Strategy announced its BTC Monetization Program on June 29—31 days before our Q2 results, not after posting a loss. We have never had a ‘never sell’ policy. The program does not require any BTC sale, and we expect to remain a net buyer of Bitcoin over time.”
Old posts resurfaced within hours
The post drew immediate backlash from users who said Saylor had spent years publicly telling people not to sell Bitcoin.
User Andy Kat questioned whether anyone reading the statement would fail to connect it with Saylor’s famous “never sell your Bitcoin” line, adding a sarcastic remark that he would do anything to save the company.
Another user, J. K1NG, posted screenshots of Saylor’s earlier statements and wrote, “This YOU?”
Those screenshots included a Feb. 2, 2025 post that read, “Never sell your Bitcoin.” According to the report, that post drew 6 million views. On Feb. 3, 2026, Saylor also posted, “The Rules of Bitcoin: 1. Buy Bitcoin 2. Don’t Sell the Bitcoin.” Another post stated, “You do not sell your Bitcoin.”
J. K1NG then accused Saylor of drawing a distinction between what he told retail investors and what Strategy actually bound itself to do, asking whether the company had avoided adopting a “never sell” rule for itself so it could sell into buyers who followed that message.
SEC filing showed Strategy already sold 3,588 BTC
Saylor’s statement that the program does not require any BTC sale landed against a different set of facts already reported earlier: Strategy sold 3,588 BTC between June 29 and July 5 for about $216 million, according to an SEC filing cited in the report.
The sales broke down into 1,363 BTC sold on June 29 and June 30 at an average price of about $59,256, followed by another 2,225 BTC sold between July 1 and July 5 at an average price of about $60,773.
The proceeds were used to pay dividends on preferred shares including STRC and to replenish the company’s U.S. dollar reserves.
Debate continued after Strategy raised its sale limit
The dispute came after Strategy, in its latest earnings call, raised its Bitcoin sale ceiling to $5 billion, four times the original amount.
Saylor’s latest post framed the monetization plan as a preexisting capital management measure rather than something rolled out after a quarterly loss. But the reaction online showed that the main issue for critics had not changed: Saylor had repeatedly promoted “do not sell” language in public, while Strategy had already carried out a sizable Bitcoin sale at the end of June and the start of July.