Michael Saylor claims remarks on selling Bitcoin aimed to confuse short-sellers and critics

(SeaPRwire) –   Michael Saylor, widely recognized as the leading Bitcoin purchaser globally, once declared, “You do not sell your Bitcoin” back in October. However, during a recent earnings call, the crypto tycoon reversed his stance: “We will probably sell some Bitcoin to fund a dividend just to inoculate the market.”

This apparent change of position surprised both his supporters and industry analysts. In an interview with , Saylor—a prominent figure among Bitcoin advocates known for his intense devotion—explained that his shift in rhetoric was a deliberate strategic move targeting short sellers and critics of Strategy.

“The haters… the skeptics and the short-sellers don’t recognize that we’re just selling a Bitcoin derivative, and we have the option to sell the Bitcoin,” he explained.

Saylor further noted that the prevailing belief that Strategy would never liquidate its Bitcoin holdings had emboldened short-sellers and so-called “Twitter trolls,” who now expected the company to prioritize stock sales over Bitcoin in the event of loan repayment obligations. Such a move, they feared, could trigger a sharp decline in Strategy’s stock price.

“If you want to defeat that, you have to basically show that you’ll trade the Bitcoin back for the stock, or trade the Bitcoin to meet the liabilities,” Saylor said.

Bitcoin buyers and sellers

Saylor’s acknowledgment that Strategy might offload portions of its cryptocurrency reserves comes against the backdrop of a broader downturn in the crypto market, which has tested the digital asset treasury model pioneered by Saylor. Since 2020, Strategy has amassed $65 billion worth of Bitcoin.

In 2025, numerous small public companies began adopting similar strategies, accumulating cryptocurrencies on their balance sheets in hopes of boosting their stock values—all emulating Strategy’s success. At one point in late 2024, Strategy’s market capitalization surged past $100 billion; it currently stands at approximately $63 billion.

However, after Bitcoin reached an all-time high of around $126,000 in October, the cryptocurrency dropped sharply to about half that value. While prices have since recovered somewhat to roughly $80,000, they remain about 40% below their October peak. During this slump, several Strategy-like firms—including Nakamoto, Empery Digital, and Sequans—have sold portions of their Bitcoin holdings, causing their share prices to collapse. For instance, Nakamoto, which raised $710 million last year, has seen its stock plummet by more than 99%.

Despite these setbacks, Saylor remains optimistic. He urged these companies to follow Strategy’s lead by developing complex, yield-generating financial instruments like STRC—a stock class issued by his firm offering holders an annual dividend of 11.5%. “In my experience, no great business was ever created in less than four or five years of difficult work,” he told . “So, I give these companies five years.”