Bitcoin
Strategy Sells Another 1,638 BTC; Saylor Clarifies Personal Holdings Untouched
Strategy (formerly MicroStrategy) has disclosed the sale of 1,638 Bitcoin between July 27 and August 2, generating approximately $104.7–$105 million at an average price of about $63,957 per coin. The proceeds were allocated to support preferred-stock distributions, strengthen the company’s USD reserve (now standing at roughly $4 billion), and fund repurchases of STRC shares.
Following the transactions, Strategy’s Bitcoin holdings stood at 842,138 BTC, with a reported average acquisition cost of around $75,419 per coin and an aggregate purchase price near $63.5 billion. The sale marks another instance of the firm prioritizing capital management and liquidity over net accumulation in recent weeks.
Executive Chairman Michael Saylor moved quickly to address potential confusion around the sales. In a public statement, he clarified that the transactions reflect corporate decisions by a public company managing its balance sheet and obligations—not any personal selling on his part. “When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet,” Saylor wrote. He added that the company has disclosed since 2020 that it may buy or sell Bitcoin as part of capital management, while emphasizing that “our shared conviction in Bitcoin remains unchanged.”
The latest moves come amid broader market scrutiny of corporate Bitcoin treasury strategies and the preferred-share structures many of these firms use to fund operations and distributions. Strategy has paused aggressive net accumulation in recent periods while building cash reserves and managing its preferred obligations, a shift from its earlier pattern of near-continuous buying.
Despite the reduction, Strategy remains one of the largest corporate Bitcoin holders. The company continues to frame its long-term thesis as intact, with the recent sales positioned as tools for liquidity and capital-structure management rather than a change in conviction toward the asset itself. Market participants will be watching subsequent filings for signs of whether net buying resumes or whether further sales and reserve-building remain the priority in the near term.
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Goldman Sachs has agreed to acquire NEOS Investments in a cash-and-equity transaction valued at up to $2.25 billion. The deal brings roughly $30 billion in assets under management across NEOS’s 19 options-based income ETFs into Goldman Sachs Asset Management, including a Bitcoin covered-call / income-oriented fund of approximately $1 billion.
Post-deal, Goldman’s overall ETF platform is expected to reach around $130 billion in assets. Combined with existing holdings and the earlier acquisition of Innovator Capital Management, the firm will manage about $80 billion in active ETFs, positioning it among the top eight active ETF providers.
NEOS, founded in 2022 and based in Westport, Connecticut, specializes in systematic options strategies designed to generate monthly income. Its lineup includes the NEOS Bitcoin High Income ETF (BTCI), which uses a covered-call approach on bitcoin-linked exchange-traded products rather than holding bitcoin directly, along with related boosted Bitcoin and Ethereum high-income products. These funds form part of a broader derivative-income ETF category that has seen rapid growth as investors seek yield and buffered exposure.
The transaction consideration is subject to certain performance and service commitments. Closing is targeted for the first quarter of 2027, pending regulatory approval and customary conditions. NEOS co-founders Troy Cates and Garrett Paolella are expected to join Goldman Sachs Asset Management as partners, with the broader team also transferring.
The acquisition expands Goldman’s presence in crypto-related income products at a time when spot Bitcoin price action has remained relatively subdued. It underscores Wall Street’s continued effort to deepen product offerings around Bitcoin and digital assets, particularly in the options-based income segment that appeals to yield-seeking investors.
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