In This Story
Michael Saylor’s boast about never selling Bitcoin took a hit this week, as the company he co-founded clarified that there are indeed circumstances where it might have to part with some of its reserves.
“A significant drop in the market value of our bitcoin holdings could negatively impact our ability to meet our financial obligations,” Strategy (MSTR+10.32%) (previously MicroStrategy) stated in a regulatory filing on April 7. These obligations entail the interest due on $8.21 billion in loans, principal repayments on those loans starting next year, office space leases, and dividends owed to some investors, as reported by crypto news site Protos.
In simpler terms, if Bitcoin’s price plummets sufficiently, Strategy would have no option but to sell some BTC to cover its substantial debts. This risk is embedded in Strategy’s business model, as the company has heavily invested in a volatile cryptocurrency (though it’s worth noting that Bitcoin is sometimes less volatile than various leading stocks). Nonetheless, this disclosure stands in stark contrast to Saylor’s repeated assertion; “You do not sell your #Bitcoin,” he remarked in February.
As of Monday, Bitcoin’s largest corporate holder reported having 528,185 BTC, of which 80,715 (approximately 15%) was purchased in Q1 2025, according to The Block. The company also revealed it experienced unrealized losses of $5.91 billion in the first quarter, during which Bitcoin significantly lost value.
On Friday, Bitcoin had climbed around 3.7% by midday, reaching $82,556 as of 12:08 p.m. ET. However, it remains approximately 11.7% lower since the start of the year. The price has dropped below $80,000 multiple times since March, influenced by unpredictable stock market fluctuations tied to President Donald Trump’s tariff policies.
On April 9, Saylor simply tweeted “HODL,” a popular term in the cryptocurrency community encouraging investors to hold onto their assets, which can also mean “hold on for dear life.”
Strategy bought its entire Bitcoin stockpile at an average price of $67,458 per Bitcoin.
