Michael Saylor, executive chairman of Strategy, recently acknowledged the possibility of selling Bitcoin and explained why publicly denying that option could actually hurt the asset. In an interview with Scott Melker on The Wolf of All Streets podcast, Saylor argued that an absolute “never sell” stance creates problems for companies holding large Bitcoin reserves. “We own about $65 billion worth of Bitcoin. If the market thought we'd never sell it, ratings agencies would say, ‘Well, then it’s not an asset,’” Saylor explained. Michael Saylor Says Bitcoin Must Remain Liquid According to Saylor, Bitcoin needs to remain liquid and usable for companies managing large treasury positions. He said there is between $20 billion and $100 billion in liquidity within the Bitcoin market that remains largely uncorrelated with a company’s stock performance or credit rating. If companies refuse to access that liquidity under any circumstances, the value and flexibility of Bitcoin as a treasury asset could weaken. The discussion followed comments he made during Strategy’s first-quarter earnings call, where he suggested the company could sell Bitcoin in certain situations to protect market confidence or stabilize the business during periods of panic. That statement surprised many Bitcoin supporters because Saylor has spent years promoting the idea of never selling BTC. Bitcoin Community Reacts to Saylor’s Comments The remarks quickly triggered debate across the crypto community. Simon Dixon said on social platform X that Strategy could eventually face pressure to sell Bitcoin if traditional financial institutions manipulated the company’s Bitcoin-backed debt or dividend products. Despite the controversy, Strategy continues expanding its Bitcoin holdings. The company began accumulating Bitcoin in August 2020 and now holds 818,869 BTC at an average purchase price of $75,540 per coin. Between May 4 and May 10, Strategy acquired another 535 BTC worth roughly $43 million at an average price of $80,340 per Bitcoin. Strategy Still Doubles Down on Bitcoin Even after discussing the possibility of selling, Saylor continues publicly supporting Bitcoin accumulation. For years, he repeatedly posted the phrase “Never sell your Bitcoin” on social media. However, since May 6, the wording has shifted slightly to: “Buy more Bitcoin than you sell.” The subtle change has fueled speculation that Strategy may be preparing for a more flexible long-term treasury strategy while still maintaining its strong bullish position on Bitcoin.
