Saylor Sees Bitcoin Above $100,000—So Why Is Strategy Willing to Sell?

Strategy (NASDAQ:MSTR) Executive Chairman Michael Saylor says Bitcoin (CRYPTO: BTC) will climb back above $100,000, even as his company stays willing to sell parts of its holdings.

Why Saylor Says Bitcoin’s Headwinds Are Turning Into Tailwinds

Saylor told Bloomberg Crypto Tuesday that Bitcoin recently bounced off its 200-week moving average and now trades at a 25% premium above it. 

He pointed to a favorable regulatory environment, accelerating bank adoption, and growing tokenized securities activity as factors shifting Bitcoin from headwinds into tailwinds.

Saylor argued AI spending is pulling capital away from traditional equities built on human labor, pushing investors instead toward scarce assets robots can’t replicate. 

He called Bitcoin “the king of commodities” in that environment, framing it as digital capital competing directly with gold and other scarce assets for investor dollars.

Why Strategy Sold Bitcoin This Summer Despite Saylor’s Hold-Forever Stance

Strategy sold a small amount of Bitcoin in June when it traded near $73,000, a move that broke from Saylor’s long-standing advice to never sell. 

Saylor described Strategy as a structured finance company that can buy or sell Bitcoin, dollars, equity, or credit on any given day to benefit shareholders.

He called the initial sale an “inoculation” moment that briefly spooked the market, pushing Bitcoin lower. 

Later Bitcoin sales of thousands of coins drew no reaction at all, and in one case the market actually traded up afterward, according to Saylor. 

He said locking into a permanent no-sell stance would ultimately hurt the company’s value rather than protect it.

Strategy has acquired more Bitcoin than any company in the world this year and expects that trend to continue as Bitcoin moves into what he calls a bull market. 

He said the company plans to keep issuing digital credit products like STRC alongside its Bitcoin purchases going forward.

How Saylor Breaks Down Investor Time Horizons

Saylor laid out a framework matching different investor needs to different products:

• Need money within three months: money market funds.
• Need money in three months to four years: STRC, which pays a 10% to 12% dividend.
• No money needed for four-plus years, want lower risk: Bitcoin directly, targeting 20% to 30% annual returns.
• Want to outperform Bitcoin: Strategy or Strive equity, amplified through credit issuance.

Why Saylor Thinks Strategy Beats Buying Bitcoin or ETFs Directly

Saylor said Bitcoin has returned roughly 38% annually since Strategy’s first purchase in August 2020, while MSTR stock has returned 52% to 53% annually over that same stretch, outperforming every major stock except Nvidia (NASDAQ:NVDA). 

He argued Strategy’s ability to issue high-yield credit backed by its Bitcoin holdings, rather than just holding the asset directly, gives the company an edge no ETF or direct Bitcoin purchase can replicate.

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