Michael Saylor Indicates Resumption of Bitcoin Purchases Amid Selling Plans
- Michael Saylor announced that Strategy will resume its BTC purchases this week after a pause.
- The last purchase was on April 27, acquiring 3,273 BTC for approximately $255 million, bringing total holdings to 818,334 BTC valued at about $61.8 billion.
- During a recent earnings call, Saylor indicated the company may periodically sell BTC to fund dividends for credit instrument holders.
- Critics warn that selling portions of its holdings could exert downward pressure on the Bitcoin market price.
- Strategy CEO Phong Le stated that sales would only occur in specific instances and should not impact Bitcoin’s market significantly.
Saylor’s announcement reflects a shift in Strategy’s approach towards its Bitcoin holdings, with plans to sell some assets for dividend payments while continuing purchases to enhance their treasury position.
This week’s anticipated purchase follows a significant holding of over $61 billion in BTC, raising questions about the potential market effects of their planned sales.(Source)
