Saed News: Strategy (MicroStrategy), the largest institutional holder of the king of cryptocurrencies, is on the verge of a historic change. After reporting a $12 billion loss in its latest financial report, Michael Saylor, announced the possibility of selling part of the company’s $65 billion Bitcoin reserves to pay dividends and prove liquidity.
According to SAEDNEWS, Strategy, the largest institutional holder of Bitcoin with reserves worth more than $65 billion, may soon sell part of its assets. Based on data from the prediction platform Myriad, the probability of the company selling Bitcoin this year has reached 82%.
This change in attitude occurred after Bitcoin’s price declined following its record high in October, resulting in significant unrealized losses in the company’s first-quarter financial report. Michael Saylor, founder and chairman of Strategy, said during the company’s first-quarter earnings call:
“We will probably sell some Bitcoin to pay dividends in order to show the market that we are capable of doing so and to send that message.”
These statements indicate a clear shift from Saylor’s previous positions, in which he had urged users to “never sell their Bitcoin.” In this regard, Phong Le, CEO of Strategy, also emphasized that the company would sell when it benefits the company and shareholders, and that they never intend to merely stand by and say they will never sell.
In an interview with Fortune magazine, Saylor explained that this move is necessary to break the false narratives of opponents and critics. He believes the company must demonstrate that it can liquidate its digital assets to settle debts or repurchase shares. MicroStrategy experienced a net loss of $12.54 billion in the first quarter due to falling prices, which further highlights the necessity of flexibility in asset management.
