- Strategy executive chairman Michael Saylor has clarified recent remarks suggesting his firm could sell some of its vast Bitcoin holdings.
- Saylor argues that acknowledging potential sales protects the asset’s long-term value and the company’s financial standing.
- The clarification follows speculation after Strategy‘s earnings call, contrasting its famous “never sell” stance.
- The company continues its accumulation strategy, recently purchasing 535 Bitcoin for $43 million.
Michael Saylor, executive chairman of Strategy, explained in a May 10 podcast appearance why he raised the possibility of selling Bitcoin during the company’s recent earnings call. He stated this was a strategic move to protect the long-term interests of the cryptocurrency asset held by his firm.
Saylor told Scott Melker on The Wolf Of All Streets podcast published to YouTube that the company owns about $65 billion worth of Bitcoin. He argued that if the market believed Strategy would never sell, credit agencies might not recognize it as a usable asset.
Consequently, he emphasized the importance of available market liquidity, estimated between $20 to $100 billion. “If we were to say we’re never going to take advantage of that liquidity and we’re never going to use that asset, then we’re impairing the asset, which 98% of the company is built on,” Saylor explained.
“It’s pretty important to us to send the signal that if we need to, we can,” he added. This clarification comes after his earnings call comments sparked speculation within the Bitcoin community about a potential shift from the “never sell” doctrine.
Prominent Bitcoiner Simon Dixon said on May 7 that Strategy might need to sell some Bitcoin under certain financial pressures. Strategy has consistently bought Bitcoin since August 2020 as a primary treasury asset.
The company now holds 818,869 BTC at an average purchase price of $75,540 per coin, according to its website. Meanwhile, the firm acquired an additional 535 Bitcoin for $43 million between May 4 and May 10.
While Saylor is known for regularly posting “Never sell your Bitcoin” on X, he wrote “Buy more bitcoin than you sell” on May 6.
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