Saylor’s Strategy to Sell Some Bitcoin; Comcast Is Splitting in Two, Again

Do the folks at crypto holding firm Strategy know the old adage that one should buy low and sell high? Strategy revealed today a plan to sell some of its vast stock of bitcoin, even as the cryptocurrency is hovering around its lowest point in two years. 

The current price of around $60,000 is 20% below the average price Strategy has paid for its pile of bitcoin, now worth about $51 billion in total. Strategy has accumulated its crypto since pivoting in 2020 from the boring world of enterprise software. Since then it has raised more than $59 billion by selling stock and borrowing money to fund its purchases. Along the way, the man behind this approach, Strategy’s executive chair, Michael Saylor, made it clear that Strategy was not going to sell bitcoin.