Michael Saylor floated Bitcoin sales idea to avoid 'impairing' the asset
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Strategy executive chairman Michael Saylor said that continuing to use the “never sell” Bitcoin mantra could ultimately undermine the asset his company is built around.
Key facts
On Monday, that Strategy acquired 535 Bitcoin for $43 million between May 4 and May 10 at an average price of $80,340 per BTC
There is $20 to $100 billion of liquidity in the Bitcoin market that is not correlated to their equity or to their credit
Michael Saylor spoke to Scott Melker on The Wolf Of All Streets podcast
While Saylor is known for regularly posting “Never sell your Bitcoin” on X, on May 6, he wrote, “Buy more bitcoin than you sell
Summary
Strategy executive chairman Michael Saylor said he raised the possibility of selling Bitcoin during Strategy's recent earnings call to protect the asset's long-term interests. “There is $20 to $100 billion of liquidity in the Bitcoin market that is not correlated to our equity or to our credit. It comes after growing speculation within the Bitcoin community after Saylor said during Strategy’s first-quarter earnings call that his company could sell Bitcoin to “inoculate” the market against sudden panic or to reinforce confidence in the company, in contrast to its long-standing “never sell” Bitcoin strategy. Michael Saylor spoke to Scott Melker on The Wolf Of All Streets podcast.