Strategy executive chairman Michael Saylor said he raised the possibility of selling Bitcoin during the firm's recent earnings call to protect the asset's long-term interests.
“We own about $65 billion worth of Bitcoin. If the market thought we would never sell it, the credit rating agencies would say, Well then, I guess it’s not an asset,” Saylor told Scott Melker on The Wolf Of All Streets podcast.
“There is $20 to $100 billion of liquidity in the Bitcoin market that is not correlated to our equity or to our credit. 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, adding: “It’s pretty important to us to send the signal that if we need to, we can.”
Bitcoiners began to speculate on social media. BnkToTheFuture CEO Simon Dixon said Strategy “might need to sell some Bitcoin when the financial industrial complex manipulates our Bitcoin collateralized debt obligations.”
Strategy has been consistently buying Bitcoin since August 2020. The company now holds 818,869 BTC at an average purchase price of $75,540 per coin. Despite his well-known posts of “Never sell your Bitcoin,” Saylor recently wrote on X, “Buy more bitcoin than you sell.”