Michael Saylor Fires Back At Jim Cramer’s ‘Murder’ Jab While Strategy Sits At $12 Billion Paper Loss

• Jim Cramer tweeted, “Saylor murdered Bitcoin” after Strategy sold 32 BTC recently. Saylor replied, “It’s just a flesh wound, Jim.”
• With Bitcoin near $61,000, the position is now worth around $51.4 billion, an unrealized loss of around $12 billion.
• Strategy’s stock closed the week at its lowest point since November 2022 after it sold Bitcoin for the first time since 2022.

Michael Saylor pushed back against criticism that he had "murdered" Bitcoin (BTC), as a slide below $61,000 pushed Strategy's Bitcoin position underwater — leaving its roughly $64 billion stake worth about $12 billion less than the company paid for it.

The exchange started after CNBC’s Jim Cramer posted on X, saying, “Saylor murdered Bitcoin” in a post sharing commentary on Strategy’s recent sale of 32 BTC. Saylor said, "It's just a flesh wound, Jim.”

The pressure came after Strategy’s (MSTR) first publicly disclosed net sale of Bitcoin since 2022. The company sold 32 BTC at an average price of $77,135 per coin, or about $2.5 million, between May 26 and May 31. The sale proceeds will be used to pay the dividend on its STRC perpetual preferred stock. The sale price was higher than Strategy’s cost basis. The company had a USD reserve of $900 million as of May 31, compared with $2.25 billion at the start of 2026, it said.

Strategy, the largest corporate holder of Bitcoin, holds 843,706 BTC at an average price of $75,699 per coin, for a total cost basis of about $64 billion. With Bitcoin trading around $61,000, the position is below the purchase price. Against the holdings, Saylor’s company held a Bitcoin reserve worth about $51.4 billion, sitting on an unrealized loss of around $12 billion on its Bitcoin holdings.

MSTR stock ended the week at its lowest level since November 2022, with Bitcoin down nearly 18% on the week and below $60,000 intraday. On Stocktwits, retail sentiment around MSTR remained in the ‘extremely bearish’ zone, while chatter improved to ‘extremely high’ from ‘high’ over the past day.

https://www.stocktwits.com/TheHolySnailUK/message/655654961 

However, some users on Stocktwits, called Saylor’s move as an “intentional move.”

Is Strategy To Blame For Bitcoin’s Dip?

The selloff has changed the blame game, with many investors holding Strategy’s Bitcoin sale as the reason for Bitcoin’s price drop. Critics had previously blamed Saylor for Bitcoin’s moves, and analysts increasingly pointed to a liquidity drain from the AI sector and the IPO pipeline. 

Bitcoin was not falling due to the 32-BTC sale, but because some $19 trillion of new AI market capitalization had been created over 12 months, and Bitcoin was “the most liquid risk asset on earth” being drained to finance the largest IPO cycle since 2000, analyst Joe Consorti said.

Saylor called that same dynamic bullish on X. "The AI buildout is absorbing capital at historic scale, creating temporary pressure across global markets," he wrote on Saturday. "That does not weaken Bitcoin. It strengthens the case for scarce, liquid, digital capital. Bitcoin remains the premier asset for the long term."

He has previously said the drawdown reflects capital rotating into AI infrastructure rather than a flaw in the Strategy’s model, and the company said it remains a net accumulator, buying 10 to 20 Bitcoin for every coin sold.

Read also: Arthur Hayes Cashes Out Of Worldcoin Days After Backing Sam Altman’s Token

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