MicroStrategy Saylor: What I said is that you all should never sell Bitcoin; I didn’t say that the company won’t sell coins.

MicroStrategy founder Saylor clarifies that he never promised the company would not sell Bitcoin. The market is concerned that the company may be forced to sell due to dividend pressures, currently facing an unrealized loss of approximately $8.4 billion on its holdings.

Saylor further clarifies: he never said MicroStrategy would not sell coins

Is the so-called MicroStrategy "never sell Bitcoin" myth just a misunderstanding by investors? MicroStrategy (Strategy, stock ticker: MSTR), the Bitcoin reserve company, founder Michael Saylor recently defended his decision to sell 32 Bitcoins at the Bitcoin Conference in Prague.

Saylor stated that he did suggest that individual investors should never sell Bitcoin, but he never promised that the company itself would not sell this asset. He emphasized that the company has been publicly clear over the past five years that it may sell Bitcoin to meet financial obligations if necessary.

MicroStrategy CEO Phong Le previously explained to the public that this sale was mainly to test internal operational processes, and the cash proceeds would be used to pay the preferred stock dividends due on June 30.

However, netizens quickly found statements where he said MicroStrategy would not sell Bitcoin, such as an interview from CoinDesk below:

Saylor wants to build a digital credit market, but the related market is decoupled

Saylor previously explained that MicroStrategy must retain the ability to sell Bitcoin assets to support the issuance of preferred dividends and other Bitcoin-backed credit products.

He views the STRC preferred stock issued by MicroStrategy as a digital credit tool, believing the company is engaged in digital credit sales, which require Bitcoin as capital backing.

Saylor previously claimed that the digital credit market has trillions of dollars of growth potential, but recent financial derivatives related to it are facing market tests.

Due to the decline in the value of STRC as collateral, along with Bitcoin price volatility and reduced liquidity, Apyx Finance protocol's issued STRC dividend-supported synthetic stablecoin apxUSD experienced a decoupling on June 4, dropping as low as $0.90.

Image source: CoinGecko apxUSD experienced a decoupling on June 4, dropping to a low of $0.90.

Bitcoin's decline isn't MicroStrategy's fault....... is it?

After MicroStrategy bought coins earlier this month, Bitcoin quickly fell below $70k and briefly dropped below $60k. The company then bought another 1,550 coins, but Bitcoin's price has not yet returned to $70k.

In response, Saylor recently attributed Bitcoin's decline to the AI hype siphoning off funds. But digital asset investment firm ARCA's CIO Jeff Dorman published a post rebutting his claim, as well as countering factors like the overall economic impact proposed by NYDIG and the capital squeeze from SpaceX's IPO.

• Related report:** Bitcoin down 22% in a month! MicroStrategy reassures investors: it's just AI capital rotation, assets haven't depreciated**

He believes the main reason for Bitcoin's sharp drop is that investors realize MicroStrategy may need to sell more Bitcoin in the future to pay preferred dividends, estimating that MicroStrategy currently has only five months of cash flow. To smoothly pay dividends until September 2028, it might need to sell assets worth $2 billion to $4 billion.

The market is worried that the world's largest Bitcoin buyer might turn into a forced seller, triggering ongoing selling pressure.

Meanwhile, CNBC personality Jim Cramer, dubbed the "anti-indicator" by the community, also joined in criticizing Saylor, accusing him of "killing Bitcoin."

Image source: X, the CNBC personality Jim Cramer dubbed the "anti-indicator," has criticized MicroStrategy's Bitcoin sales, accusing founder Saylor of "killing Bitcoin."

MicroStrategy is still buying, but unrealized losses persist

After selling 32 Bitcoins and buying 1,550 Bitcoins within just a few days, MicroStrategy still maintains its previous stance as a "net buyer."

According to data from BitcoinTreasuries, MicroStrategy's total Bitcoin holdings reach 845,256 coins, with an average purchase cost of $75,681. But based on recent market prices of about $65,700, MicroStrategy currently faces an unrealized loss of approximately $8.4 billion, a loss of 13.19%.

Image source: BitcoinTreasuries MicroStrategy's total Bitcoin holdings reach 845,256 coins, with an average purchase cost of $75,681.