Michael Saylor floated Bitcoin sales idea to avoid ‘impairing’ the asset
Strategy executive chairman Michael Saylor said that continuing to use the “never sell” Bitcoin mantra could ultimately undermine the very asset his company is built around.
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.
“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 published to YouTube on May 10.
“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:
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