Strategy Gains Authority to Sell Bitcoin, Ending Six-Year Accumulation-Only Stance

Strategy's Board authorized a BTC Monetization Program on June 29, allowing management to liquidate portions of its 847,363-bitcoin treasury for the first time since 2020. Previously one-directional—issuing equity to buy bitcoin—the firm can now sell BTC to fund buybacks or finance capital instruments. The authorization lacks disclosed triggers or price limits, introducing a new variable for investors: the treasury shifts from passive accumulation to actively managed reserve.