Michael Saylor’s “Never Sell” faith was finally broken—sUSDat de-pegged to 0.93. This move directly shattered the narrative. It seems that in the face of real money, nothing is truly decentralized, and the HODL myth ultimately loses to cash flow pressure.

PaiDun Monitoring reports that the STRC-backed collateralized stablecoin sUSDat once de-pegged to approximately $0.93, then rebounded to $0.98. The fluctuation was caused by Strategy breaking the "never sell" principle, during which approximately 77,135 USD worth of 32 BTC were sold at an average price, totaling about $2.5 million, representing about 0.0038% of the 843,000 BTC holdings. The proceeds were used for distribution expenses. During the same period, Strategy also sold 801,994 common shares, raising approximately $128.3 million.