Michael Saylor Says ‘Buy More Bitcoin Than You Can Sell’ After MSTR Opened Door To BTC Sales

• Strategy chief executive Michael Saylor on Thursday shared a cryptic post on X stating, “Buy more Bitcoin than you can sell.”
• His post comes after Saylor said Bitcoin sales could be used to pay dividends or optimize Strategy’s balance sheet during the company’s Q1 earnings call, earlier this week.
• The comments marked a shift from Saylor’s previous “never sell” stance on Bitcoin, which was still in place until three months ago. 

Strategy (MSTR) executive chairman Michael Saylor on Thursday gave another hint of the company’s shift from its “never sell” stance on Bitcoin (BTC) in a post on X.

“Buy more Bitcoin than you can sell,” he wrote in the post. The remark came just days after Saylor said during the company’s first-quarter (Q1) earnings call that Strategy may consider selling Bitcoin to pay dividends or optimize its balance sheet.

“Our ability to sell Bitcoin either to buy U.S. dollars or sell Bitcoin to buy debt if it’s accretive to Bitcoin per share is something that we would consider doing going forward,” Saylor said during the call.

MSTR’s stock dropped 2.5% in morning trade amid Bitcoin’s slide. BTC’s price was down nearly 2% in the last 24 hours, trying to hold above $80,000. Retail sentiment on Stocktwits around both tickers remained in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter. 

Michael Saylor’s Pivot From ‘Never Sell’ Bitcoin

MSTR has been one of the market’s most closely watched Bitcoin proxy stocks, with its share price often amplifying moves in the cryptocurrency itself. In an interview with CNBC just three months prior in February, Saylor stated that Strategy would “never sell” Bitcoin. Retail traders on Stocktwits have been questioning whether he may already have sold some this week. 

So far, the company has sold Bitcoin only once, in December 2022. It sold 704 BTC for around $11.8 million at an average price of $16,775 per Bitcoin. At the time, the company said the sale was for tax-loss harvesting purposes amid low Bitcoin prices. It marks the first, and only, divestment by MSTR since its 2020 pivot to a digital asset treasury (DAT). 

Strategy currently holds over 818,000 BTC, despite hitting pause on new Bitcoin purchases in the past week. MSTR’s stock has gained more 20% this year, while Bitcoin’s price has fallen by over 8%. 

Read also: Bitcoin Rally Stalls Ahead Of Jobless Claims As Crude Oil Extends Decline: Crypto Market Sees $420M In Liquidations

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