Michael Saylor Just Broke The Golden Rule With His Most Dangerous Bitcoin Move Yet | Bitcoin Simply

**Michael Saylor** (0:00)
Something happened 19 hours ago, and that shocked the internet.

**Nick O'Neill** (0:05)
What was it?

**Michael Saylor** (0:05)
They're probably referring to our earnings call where we announced that we're prepared to sell Bitcoin to fund our stretched dividends of need be.

**Dante Cocco** (0:13)
The internet went crazy from a comment about Strategy potentially selling its Bitcoin. So you can imagine how crazy it was when people saw that Strategy sold 32 Bitcoin yesterday.

**Michael Saylor** (0:23)
You do not sell your Bitcoin. Thank you.

**Dante Cocco** (0:27)
So much for never sell your Bitcoin. Saylor just broke the number one rule in Bitcoin. But did he have a good reason for it? Is there a bigger strategy behind strategy selling their Bitcoin? Or is this proving that the haters were right all along? That Strategy is just a Ponzi scheme. But very few Bitcoiners are coming out online saying that this was the end game that Howe Finney predicted a long time ago. So who's a liar? Saylor or the first person to ever run Bitcoin? I'm not a shareholder, just an observer. And today, I'll give you my unbiased take on what's really going on. The reason why Strategy and Saylor sold the Bitcoin. And I also dug up two major data points that show why you should be bullish. This is DanteCocoBitcoinSimply, let's go.
Alright, before we get into it, make sure you sign up for Simply Bitcoin's newest launch that we're launching next week if you haven't already done so.
Get on the waitlist, get the information, get on the webinar that we're dropping to announce what we've been working on for the past several months. You're not going to want to miss it. Let's get into the spicy episode. The S&P 500 continues to make all time highs, and Bitcoiners are seeking counseling and seeking to cope by justifying that somehow this is the best bear market ever. Bitcoin dipped below 70K and its biggest champion for never sell your Bitcoin, Michael Saylor, well, they just sold their Bitcoin. On June 1st, Strategy sold 32 Bitcoin and $128 million worth of MicroStrategy shares, according to the AK.
So, like I said before, I'm not a Strategy shareholder, but let me give you my take on this. The outrage about this is outrageous. The Internet is freaking out because they sold 32 Bitcoin when they owned over 843,000 Bitcoin. That's.0038% of the Bitcoin holdings that they have. The second reason this is outrageous is because he told you he was going to do it.

**Michael Saylor** (2:18)
I'm very famous for saying never sell your Bitcoin, and that's why the Internet went crazy when we said we might sell it. But if I was being more precise, I say never be a net seller of Bitcoin. It just wouldn't have been so viral or so catchy to say never be a net seller of Bitcoin. I think that in these periods, even if we were to sell one Bitcoin, we'd be buying 10 to 20 more Bitcoin. So you're really talking about a situation where we buy 10 Bitcoin, sell one Bitcoin, buy nine net Bitcoin, and continue to create Bitcoin. It should be a non-issue after people understand it.
But right now, it's a colorful area of commentary.

**Dante Cocco** (2:57)
Saylor said they will always be net buyers of Bitcoin, which I still believe to be true. You can say what you want about Michael Saylor, but he's been the most vocal and most transparent public CEO that there's ever been in the markets. He says what he's going to do, and he doesn't. It's to prove the credit worthiness of the Bitcoin on the balance sheet to S&P credit agencies. Remember, his goal is to unlock the most capital to buy Bitcoin. And what better way to do that than to have MicroStrategy listed as a stock on the S&P 500? Well, you need credit agencies and credit ratings in order to get that stamp. Here's what he had to say about it.

**Michael Saylor** (3:31)
Well, if they're not going to sell their Bitcoin, it must not have any value, and they can never sell it. And if they can't sell it, then we can't count the Bitcoin as an asset on the balance sheet. So if you had $65 billion worth of something, and people wanted to value it at zero, it's not very good, right? We don't want the credit rating agencies to think the company has $0 of assets. We want the credit rating agencies to think we have $65 billion of assets.

**Dante Cocco** (3:56)
A few months back in their latest shareholder earnings, they released some information that they got from the S&P. They said, the company is showing some weakness because it must rely on its ability to sell stock, preferred equity, or convertible debt to finance purchases and cover debt service costs, which essentially renders its Bitcoin on its balance sheet, the $843,000 Bitcoin, worthless. That's the big problem. If the number one asset that you're running your company and your company's strategy on has no value, well, that's a major problem. And this is why I believe that they sold their Bitcoin. Not because they needed $2.5 million in proceeds. Saylor's always in a lose-lose position. He runs a publicly traded company for 25 years and he's the longest actively publicly traded CEO and he gets villainized and criticized when all of his peers have fallen off or fallen away. He takes a dying BI business intelligence company and data analytics organization from a few million dollars in enterprise value to $100 billion worth of enterprise value in a few years and he's villainized. He sells micro strategy shares because they're valuable and now it's a Ponzi scheme. He sells preferred equity. He raises convertible debt at near 0% interest rates and he's selling a little bit of Bitcoin right now and he's still in a lose lose situation. Hard for the guy to win.