Michael Saylor Denies Bitcoin Sale Rumors, Reaffirms Strategy's Commitment

By: Eliza Bennet

Renowned for its significant Bitcoin holdings, Strategy, headed by executive chair Michael Saylor, has recently been embroiled in speculation concerning the potential sale of a sizeable portion of their Bitcoin reserves. Reports had surfaced suggesting that Strategy had reduced its Bitcoin holdings by approximately 47,000 BTC, equating to a hefty $4.6 billion.

Saylor unequivocally dismissed these claims, implying that the company remains steadfast in its commitment to Bitcoin, despite recent market volatility. In a Friday post on social media platform X, Saylor stated there is "no truth" to the reports of this massive selloff. He also reiterated the firm's longstanding buying strategy, especially amid the recent dramatic fluctuations in Bitcoin's price. Bitcoin had experienced a drop of more than 4% in less than a day, yet Strategy remains undeterred.

In an insightful discussion aired on CNBC, Saylor remarked, "I think the volatility comes with the territory." He emphasized the necessity for Bitcoin investors to maintain a long-term perspective, advising a four-year investment horizon while highlighting the inherent volatility in the cryptocurrency market. This perspective has seemingly bolstered Strategy’s ongoing acquisition strategy, despite concerns of a possible flash crash.

Michael Saylor also communicated the company's insatiable appetite for the cryptocurrency. His statements underscored Strategy's ongoing effort to expand its already substantial holdings of over 640,000 Bitcoins. Saylor’s strategic focus and bullish outlook embody the company’s confidence in Bitcoin's future potential. As Strategy continues its pattern of accumulation, its actions reflect a commitment to harnessing Bitcoin's growth, reinforcing the narrative for long-term adoption and investment in Bitcoin.