Michael Saylor’s strong sentiment regarding never selling Bitcoin faced some tough realities this week, as the firm he co-founded clarified that there could be situations that necessitate selling part of its holdings.
“A notable drop in the market value of our bitcoin holdings could negatively impact our capacity to meet our financial commitments,” Strategy (MSTR) (previously MicroStrategy) stated in a regulatory filing on April 7. These commitments include interest payments on $8.21 billion in loans; principal repayments on these loans, commencing next year; office space leases; and dividends owed to some investors, as reported by crypto news platform Protos.
Essentially, if Bitcoin’s price declines significantly, Strategy may be compelled to sell some BTC to fulfill its substantial debts. This situation is part of the business structure of Strategy, which has heavily invested in a volatile cryptocurrency (though, comparatively, Bitcoin can sometimes show less volatility than leading stocks). Regardless, this revelation contrasts with Saylor’s repeated advice; “You do not sell your #Bitcoin,” Saylor emphasized in February.
The largest corporate holder of Bitcoin disclosed to investors that it held 528,185 BTC as of Monday, 80,715 (approximately 15%) of which were purchased in the first quarter of 2025, according to The Block. Additionally, Strategy revealed its unrealized losses climbed to $5.91 billion in the first quarter, a period during which the leading cryptocurrency lost a significant portion of its value.
At midday on Friday, Bitcoin was up approximately 3.7%, reaching $82,556 as of 12:08 p.m. ET. However, it remains about 11.7% lower since the beginning of the year. Bitcoin’s price has dipped below $80,000 multiple times since March, influenced by erratic stock market fluctuations amid President Donald Trump’s inconsistent tariff regulations.
On April 9, Saylor simply tweeted “HODL,” a term widely understood in the crypto community to mean “hold” or “hold on for dear life.”
Strategy acquired its entire Bitcoin stockpile at an average price of $67,458 per Bitcoin.
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