MSTR's 'never sell' pledge comes to an end. During MSTR's earnings call, the company's President and CEO, Phong Le, directly outlined a new direction: 'We’re not going to sit here and say we’ll never sell Bitcoin anymore.' Our goal is to be net accumulators of Bitcoin—not just increasing our total Bitcoin holdings, but more importantly, boosting Bitcoin per share, because we believe that’s what delivers the most long-term value to MSTR shareholders. This marks the first public shift in strategy since Strategy founder Michael Saylor established the 'never sell' principle. It means MSTR is moving from pure Bitcoin hoarding to actively managing its balance sheet, with the aim of maximizing Bitcoin value per share. For MSTR, this is naturally a good thing—active management can hedge against the risks of Bitcoin price volatility. But for the crypto market, it means one less HODLer.