Jiang Zhuoer stated on the X platform that Strategy has sold 3,588 bitcoins, cashing out approximately $216 million, marking the company's first significant reduction in holdings. He noted that with the company still holding about $2.55 billion in cash reserves, sufficient to cover 17.6 months of interest expenses, the decision to actively sell coins rather than finance through the issuance of common stock represents a significant shift from the 'never sell coins' strategy. Jiang Zhuoer believes this move may indicate an adjustment in the company's funding strategy and questioned whether selling BTC without replenishing positions would lead to a decrease in 'per share coin quantity.' He further speculated that the shareholders have likely approved the full sale of the 20,000 BTC, suggesting that Strategy may be using some of its bitcoins for phased capital allocation, which could even impact its long-term market narrative of 'continuously buying BTC'.