MicroStrategy May Sell Bitcoin in 2025: Saylor Shifts Stance

MicroStrategy chairman Michael Saylor has indicated the company may sell Bitcoin as early as 2025, marking a significant shift from his previous "never sell" position. "I think it's not unlikely that we'll sell some Bitcoin between now and the end of the year," Saylor said during an interview with Natalie Brunell published to YouTube on Friday. The company is also "likely" to sell a mix of equity and credit while managing its USD and cash holdings, Saylor noted. MicroStrategy is running "multivariate models" to guide these decisions with a focus on long-term outcomes extending to 2033. Saylor emphasized that the company's seven-year objective is to "maximize our Bitcoin per share," with decisions made "in a very thoughtful programmatic fashion."

Saylor previously outlined the rationale for reconsidering the no-sale stance during an appearance on The Wolf Of All Streets podcast with Scott Melker on May 10. "We own about $65 billion worth of Bitcoin. If the market thought we would never sell it, the credit rating agencies would say, Well then, I guess it's not an asset," Saylor explained. This statement reflects concerns that treating Bitcoin as permanently unsellable could negatively impact the company's credit rating assessment.

Current Bitcoin Holdings and Market Position

MicroStrategy holds 843,768 Bitcoin at an average acquisition price of approximately $75,700 per coin, according to the company's website and CoinMarketCap data. At the time of publication, Bitcoin was trading at $75,958, placing it slightly above the company's average cost basis. MicroStrategy's stock (MSTR) closed trading on Friday at $159.89, down 10.86% over the preceding 30 days, according to Google Finance.

Market Context

MicroStrategy's buy announcements have historically been viewed by the Bitcoin community as bullish signals. However, the company has never publicly announced a Bitcoin sale, leaving the community's reaction to such a move uncertain. The potential sale would represent a notable shift in strategy and market perception of the company's Bitcoin holdings.