Strategy could sell Bitcoin ‘just to inoculate the market’ — Michael Saylor
It marks the first time that Michael Saylor’s company has floated the idea of selling Bitcoin, parting ways with his long-held view that Bitcoin shouldn’t be sold.
Strategy executive chairman Michael Saylor said his firm could sell Bitcoin to “inoculate” the market against sudden panic or to reinforce confidence in the company, in contrast to its long-standing “never sell” Bitcoin strategy.
“We’ll probably sell some Bitcoin to fund a dividend, just to inoculate the market, just to send the message that we did it,” Saylor said during the Strategy’s first-quarter earnings call on Tuesday.
Market participants will realize that “the company’s fine, the Bitcoin’s fine, the industry’s fine, the world didn’t come to an end,” Saylor said after Strategy reported a $12.5 billion net loss, driven mostly by unrealized losses on its Bitcoin (BTC) holdings as Bitcoin fell 23.8% in the first quarter.