Michael Saylor's company, Strategy, may sell up to $1.25 billion worth of Bitcoin in its efforts to build a cash reserve and fund stock buybacks.
This is in stark contrast to the company's long-term strategy of aggressively buying BTC, with a current treasury holding of 847,363 units.
The news comes after Strategy sold just 32 Bitcoins for $2.5 million in early June, causing a 20% drop in Bitcoin's price over the course of a week.
Saylor said that despite the potential sale, 'Strategy remains committed to Bitcoin as its primary treasury reserve asset' and will maintain its long-term exposure to the cryptocurrency.