Michael Saylor Clarifies Misinformation on MicroStrategy's Potential $5 Billion Bitcoin Sales
Michael Saylor, CEO of MicroStrategy (MSTR), has refuted recent viral claims that the company plans to sell up to $5 billion in Bitcoin. The misinformation resurfaced after a capital plan was announced on June 29, which included a BTC Monetization Program allowing for potential sales but did not mandate them. The confusion stemmed from an earlier statement by Saylor suggesting 'never sell your Bitcoin,' leading some investors to believe the company had no intention of selling. However, MicroStrategy's CEO Phong Le clarified in May that selling was part of their financial strategy and a recent small sale occurred for dividend payments. The $5 billion figure is derived from various planned uses including cash reserves, share buybacks, and interest obligations. MicroStrategy reported an $8.22 billion loss on July 30 due largely to Bitcoin's price drop but remains a net buyer of the cryptocurrency despite increased sales in recent months.
Tickers: $MSTR
Topics: Bitcoin capital plan dividends MicroStrategy stock buybacks