BREAKING: Michael Saylor SOLD Bitcoin ... Again! (Here's What it Means For The Price) | EP 1541

**Opti** (0:01)
Bitcoin crashed from the mid 63Ks to the low 61Ks this morning on news that Michael Saylor sold another $216 million of Bitcoin.
But I think the market could be misinterpreting what this really means. And so before we break down the hysteria, let's show you a side of the story that I really don't see too many people talking about. And this is coming from a recent Twitter account that I truly have been enjoying. I think they have a really good signal right now. So let me read this for you guys. And it becomes very clear. Obviously, I'm going to talk about the price movements. And to me, like the irony of what we're seeing happening right now.
Anyway, the tweet goes as this. The same people that told you that stretch was going to zero are now arriving at the completely wrong conclusions about the strategy Bitcoin's sale. They have missed the point entirely. This is all about working towards S&P 500 inclusion and a better credit rating for their products. For the first time ever, all five of strategies preferred had their dividends paid for by capital raise through the sale of Bitcoin. This has destroyed the quote Ponzi narratives and is a clear demonstration of their willingness to sell Bitcoin if necessary. It's also about proving that they can monetize their holdings even during a quote Bitcoin stress, words used by the S&P Global back in October when they assigned strategy their B minus rating. No rational person can view this Bitcoin sale in any other way. They have just increased their USD reserves to $2.5 billion.
They are not desperate for capital. The truth is, since October last year, Saylor has been doing everything to address the concerns raised by S&P Global. One, they established a USD reserve which has improved their USD liquidity. Two, they have paid back some of their convertible debt and made it clear they intend to pay it all back aggressively. And three, the company continues to demonstrate strong access to capital markets even during a Bitcoin stress. Unfortunately, you will see a lot of misinformation in FUD today, but this should provide clarity amongst all the noise. Bullish on MSTR and later followed it up with the screen grab. Remember, when we got the strategy credit rating, they put this in there.
Upside scenario, an upgrade is unlikely in the next 12 months. Over the longer term, we could raise the ratings if won. We expect the company to improve US dollar liquidity, which they in fact have done, though there was a little hiccups throughout this whole process. Two, strategy reduces its use of convertible debt, which literally caused the entire argument or the contention going on on Bitcoin Twitter. And three, the company continues to demonstrate strong access to capital markets even during a Bitcoin stress. So look, maybe a lot of people weren't really understanding Saylor's move, which is something that I think I've been pretty transparent about throughout this whole process. And I think a lot of people are obviously misrepresenting or rather misunderstanding exactly what Saylor's moves are. And I've been very adamant about like, look, you know, I'm not going to claim to know more than a rocket scientist.

**Nico** (3:09)
So first of all, happy Monday, everybody. I think essentially like the if we're getting into the nitty gritty of it, like ultimately what happened was it was a marketing blunder, right? Like that's really 100%.

**Opti** (3:22)
Yeah.

**Nico** (3:22)
Like ultimately, Saylor built, you know, a huge base, a huge marketing edge, I would say, a huge narrative edge on the never sell your Bitcoin, right? Like that's ultimately what it comes down to.
But as I've been saying throughout these many weeks, Saylor is just like the rest of us in this sense, right? Like, if you guys remember when you first got into Bitcoin, at least I remember, I was as militant as that. I would say never sell your Bitcoin no matter what, make sure you have more Bitcoin today than the day before. That's ultimately what it comes down to.
And Saylor, as I predicted, in October, the capitulation event that I think you would see this market cycle in particular, in particular had to do with the Bitcoin treasury companies. And remember when that first sale happened where they announced that they're only selling 32 Bitcoin, I told you guys, I said, this is just a little test so that the markets can digest him eventually potentially having to sell more. And this is the first time that Saylor is selling a great deal amount of Bitcoin. As Opti was pointing out though, I think that there has been some mischaracterizations. I think as Opti pointed out as well, as others are potentially alluding to, this doesn't mean that strategy is in a bad position. They could keep doing this for a very, very long time. They're doing this to fulfill the interest obligations or the yield obligations that they have with their products, right? So as every other bear market that has come in Bitcoin's history, you have these types of events that inevitably happen. The only difference this time is that it relates to the biggest at the moment public company in Bitcoin, which is strategy. So it has a lot more attention on it, right? And that completely changes compared to the previous cycles where we didn't have a lot of attention on retail capitulating. Like you all you all knew a friend that was texting you like, bro, I'm selling the bottom. Like I'm over this. Like this Bitcoin's going to zero. I'm focusing on somewhere else. You all had that friend that would contact you. But we didn't have this like public capitulation that I would say is happening. And it's not just Saylor. We saw Secwons follow in the very similar footsteps.