Saylor Says ‘Never Sell Bitcoin’ Advice Was for Individuals, Company Can Sell if Needed

Michael Saylor, executive chairman of Strategy, pushed back against controversy over the company’s recent Bitcoin sales.

Speaking at the BTC Prague conference on June 11, Saylor said his oft-repeated advice to “never sell your Bitcoin” was aimed at individual investors. He made clear that, at the corporate level, the company can sell its holdings whenever necessary to maintain financial health.

“When I said never sell your Bitcoin, I was talking to individual investors,” he said. “We have never said our company would never sell Bitcoin.”

The issue intensified after it was disclosed that Strategy sold 32 Bitcoin late last month to meet financial obligations. While that represented just 0.004% of its total holdings, the move sent shock waves through the market because the company had long been viewed as a symbol of buying Bitcoin and holding it for the long term.

Saylor also expressed frustration with mockery and criticism on social media, including on Twitter. “We can’t mismanage a company because trolls on Twitter say, ‘Haha, you said you’d never sell Bitcoin,’” he said. “Should we drive a $100 billion company into bankruptcy just because we said we wouldn’t sell Bitcoin?”

He added that the company had been clear about its financial principles and disclosures. Anyone who had listened to its earnings calls over the past five years or read its filings should understand that Strategy has long said it could sell Bitcoin if necessary, he said.

Strategy also sought to calm market concerns by buying an additional 1,550 Bitcoin for $101 million on June 8. That purchase brought the company’s total Bitcoin holdings to 845,256.