Home / Business and Economy / Saylor Defends Strategy Inc.'s Bitcoin Sale Amid Backlash
Saylor Defends Strategy Inc.'s Bitcoin Sale Amid Backlash
14 Jun
Summary
- Saylor differentiated personal Bitcoin advice from corporate treasury actions.
- Strategy Inc. sold 32 Bitcoin for $2.5 million to fund dividend obligations.
- Upcoming June 30 dividend payment will be closely watched.
Michael Saylor addressed backlash over Strategy Inc.'s recent sale of 32 Bitcoin, valued at $2.5 million. Speaking at BTC Prague on Thursday, Saylor distinguished his personal advice to "never sell Bitcoin" from corporate treasury management decisions. He stated that the company's actions were transparently disclosed and that Strategy Inc. had always maintained the possibility of selling Bitcoin if necessary to meet obligations.
The sale represented a small portion of Strategy Inc.'s substantial Bitcoin reserve, which currently stands at 845,256 BTC. Following the sale, the company repurchased 1,550 Bitcoin for $65,332 per coin this week. The company's financial structure includes a permanent 11.5% annual coupon on its preferred stock, creating a recurring cash obligation.
Attention is now shifting to the next preferred dividend payment due on June 30. Investors will be closely monitoring whether Strategy Inc. will finance this obligation through further capital raises or by drawing from its Bitcoin reserves again. Meanwhile, MicroStrategy (MSTR) stock closed up 4.16% to $120.15 on Thursday, showing modest premarket gains on Friday, though a bearish "death cross" technical indicator remains active.
