Michael Saylor, the executive chairman of US-based software firm MicroStrategy, has raised the possibility that the company may one day sell its substantial Bitcoin holdings. Speaking on Scott Melker’s YouTube podcast, The Wolf Of All Streets, Saylor indicated that although Bitcoin sales are not currently on the table, the option remains under consideration to protect the company’s long-term interests.
Why a sale is possible
Saylor noted that MicroStrategy holds Bitcoin valued at roughly $65 billion. He emphasized that if the company were to declare its intention to “never sell,” major credit rating agencies might not recognize Bitcoin as a true corporate asset. Saylor pointed to the existing market liquidity of $20 billion to $100 billion as significant, and made the following statement:
“If we were to say we would never leverage this liquidity or ever dispose of these assets, we would risk undermining the value of our corporate holdings. After all, 98 percent of the company is essentially built around this asset.”
Saylor’s comments follow MicroStrategy’s Q1 earnings report, when the company first acknowledged the possibility of selling Bitcoin. His remarks have since sparked widespread debate in the crypto community about the likelihood and potential consequences of such a sale. Saylor explained that, if necessary, a sale could be used to prevent market panic or bolster investor confidence.
Investment strategy and accumulating BTC
Since August 2020, MicroStrategy has been consistently acquiring Bitcoin as its primary treasury reserve asset. According to the company’s official website, MicroStrategy currently holds 818,869 BTC, with an average purchase price of $75,540 per coin.
Investors active on social media have weighed in on Saylor’s evolving stance. Notably, Simon Dixon, CEO of BnkToTheFuture, observed that unexpected shifts within the broader financial ecosystem could potentially force MicroStrategy to sell some of its Bitcoin holdings.
Latest purchases and shifting messaging
MicroStrategy remained committed to its accumulation strategy, recently purchasing an additional 535 Bitcoin for $43 million between May 4 and May 10. These latest acquisitions, at an average price of $80,340 per BTC, underscore the company’s resolve to keep expanding its position despite recent volatility in the Bitcoin market.
Saylor, known for his frequent appeals on X (formerly Twitter) urging “Don’t sell your Bitcoin,” adopted a more nuanced tone this time. In a post dated May 6, he instead encouraged the community to, “Buy more Bitcoin than you sell,” signaling ongoing support for net acquisitions rather than absolute holding.
He further explained that MicroStrategy aims to remain flexible, adjusting its portfolio management strategies in response to changing market conditions. Saylor suggested that this adaptability is intentional, meant to ensure the company can optimize its asset strategy as needed.
MicroStrategy’s approach has triggered speculation and debate among members of the Bitcoin community, particularly about whether other major institutional holders might revisit their own strategies amid shifting market dynamics.
