Michael Siler says the strategy never promised to hold Bitcoin forever

TL;DR

Michael Siler said Strategy has never committed to a policy of "never selling" Bitcoin. He emphasized that the company's Bitcoin monetization plan does not require the sale of BTC. Strategy still expects to be a net buyer of Bitcoin in the long term. The clarification stems from recent discussions surrounding Strategy's treasury management and Bitcoin sales.

Michael Siler: Strategy has never promised never to sell Bitcoin and is expected to remain a net buyer.

Strategy Executive Chairman Michael Siler clarified the company's position on Bitcoin sales, saying that Strategy has never formally committed to a "never sell" policy and still plans to increase its holdings of more Bitcoin than it sells in the long run. Siler said Strategy has never committed to a policy of "never selling" bitcoin, and its bitcoin monetization plan does not require the company to sell any bitcoins. He added...

Responding to criticism surrounding the company's treasury strategy, Siler said any potential Bitcoin sale should be seen as a company's financial decision rather than a shift in Strategy's long-term commitment to digital assets. He also pointed out that the company's Bitcoin monetization plan does not rely on clearing positions, and reiterated that Strategy expects to remain a net buyer of Bitcoin in the long term.

Clarification stems from recent doubts about Strategy's treasury plan

Thaler's comments came after investors questioned whether Strategy had weakened its long-standing bitcoin-preferred strategy, following disclosures that the company might sell bitcoin to support treasury management and preferred stock obligations. Earlier this week, Strategy reported a huge quarterly loss, mainly due to the Bitcoin price falling below the company's average acquisition cost. The company also confirmed that it was selling Bitcoin for the first time in years to pay preferred stock dividends, and that its board of directors had authorized additional sales if necessary to manage liquidity.

However, Selle emphasized that these measures should not be interpreted as a abandonment of the company's accumulation strategy. "We expect to remain net buyers of Bitcoin," he said, reiterating that any future sale will serve financial management purposes and not represent a broad shift in Strategy's investment philosophy.

Strategy remains the largest holder of corporate bitcoin

Despite recent discussions surrounding a potential sale, Strategy still holds one of the largest corporate bitcoin treasury assets in the world. The company currently holds approximately 843,775 BTC and is the world's largest Bitcoin holder for a listed company. The value of its Bitcoin treasury still reaches tens of billions of dollars, although recent market weakness has caused the portfolio's market value to fall back from previous highs.

Since adopting Bitcoin as its main treasury reserve asset in 2020, Strategy has repeatedly raised funds to increase its holdings of Bitcoin through equity issues, convertible bonds and preferred stock issues. Thaler has long argued that Bitcoin has an advantage in maintaining long-term capital compared to holding cash, a concept that continues to shape the company's treasury strategy even in the face of short-term market fluctuations.

Markets focus on Bitcoin's next move

Strategy's remarks are likely to reassure many Bitcoin investors, who had previously viewed the recent disclosure as a departure from Siler's long-standing advocacy of holding cryptocurrencies. Although the company acknowledges that limited sales may occasionally be needed for treasury operations purposes, its broader strategy remains focused on increasing Bitcoin exposure over the long term rather than reducing it.

The clarification also comes at a time when institutional interest in Bitcoin remains strong, with spot ETF funds continuing to flow in and corporate treasury adoption continuing, even as the market is facing increased volatility and macroeconomic uncertainty. Looking ahead, investors will pay close attention to Strategy's future bitcoin purchases, financing actions and quarterly reports to determine whether the company continues to expand its holdings, as Sylor said.