MicroStrategy CEO Michael Saylor, says that his statements were misinterpreted by the media and says that he has no intention of selling BTC on “short notice” as we are reading more in the latest bitcoin news.
Despite the worries in the crypto space, the Microstrategy CEO denied that he will be selling BTC on short-notice. The confusion about what Saylor’s plan is with the company’s holdings, in an interview he stressed how liquid bitcoin is as an investment. Saylor said that the report added that he will not hesitate to liquidate the holdings if better opportunities were to come up, such as the jump in bond yields:
“We can liquidate it any day of the week, any hour of the day. If I needed to liquidate USD 200 million of bitcoin, I believe I could do it on a Saturday. If I took a haircut, I believe it would be 2%.”
After the interview, Saylor was paraphrased by other crypto news outlets as he was saying that his company will liquidate the $200 million in Bitcoin implying that he is not the long-term holder that many think he is and that he stands ready to sell the moment’s notice. However, Saylor himself pushed back at this narrative saying on Twitter that the headline is a quite big misrepresentation:
“I merely indicated that Bitcoin is to be preferred as a treasury asset because it is so liquid. I never suggested an intent to trade it for other assets on short notice.”
Furthermore, Saylor commented that BTC is the best asset to be invested in naming it “the only thing we can find with a positive real yield.” According to the Microstrategy CEO, who co-founded the company as a 24-year old in 1989 when most of the company’s largest shareholders were supportive and complimentary about the untraditional idea to invest in crypto assets.
Michael Saylor also explained that MicroStrategy is the first company to invest treasury reserves in Bitcoin but he doesn’t believe that it will be the last:
“It will probably be private companies first, because they don’t have as much inertia. We feel pretty confident that bitcoin is less risky than holding cash, less risky than holding gold.”
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