- Strategy CEO said in an interview with CNBC that the 32 BTC sale was to test the selling process and wasn’t for paying dividends, as claimed by Strategy Chairman Michael Saylor.
- Previously, Saylor said that the sale was for paying dividends, taking a complete U-turn on his policy of never selling Bitcoins.
- Phong Le further said that they may sell Bitcoins if it benefits their shareholders.
Michael Saylor Lied to the Community Twice
In what appears to be a complete lie, Michael Saylor told the crypto community that his company, Strategy, sold the 32 Bitcoins on June 11 to pay for dividends. Now, it appears the sale was intended as a test transaction. Strategy CEO Phong Le said in a CNBC interview that the company might sell more Bitcoin if it benefits its shareholders.
Saylor’s statements could be the largest lie in the history of crypto markets. The Strategy Chairman took a U-turn on his “never sell Bitcoins” stance, first during the sale of the 32 Bitcoins. Previously, he advocated a no-sell policy. He said that he won’t sell his (i.e., Strategy’s) Bitcoins.
Further, the second lie was about the test transaction itself. After the sale, he further clarified the doubts of the markets, saying it wasn’t a regular sale, but rather a special one to pay dividends. Phone Le said in the same interview that the company had other financial obligations to pay for the dividends.
Strategy May Sell More Bitcoin if it Benefits Shareholders, Says CEO Phong Le
Phong Le added to his statements in the interview that the company might sell further if it suits the interests of its shareholders, meaning that the company could sell more Bitcoins.
Strategy maintains the largest Bitcoin Reserves in the crypto markets with 845,256 Bitcoins.
Although BlackRock has a similar number of Bitcoins, all of its holdings are ETFs, and could be sold without its will, depending on ETF inflows and outflows.
Does Strategy Expect a Further Crash?
It is still unclear whether Strategy was expecting a market crash that would compel it to sell Bitcoins.
In our analysis and historical understanding of Strategy and its long-term plans, Strategy could either sell Bitcoins to end its debt at a future date. We do not expect a market crash in the near term, as geopolitical factors could improve significantly. Citibank already predicted a market bottom at $59,000.
Disclaimer: BFM Times acts as a source of information for knowledge purposes and does not claim to be a financial advisor. Kindly consult your financial advisor before investing.
