MicroStrategy Abandons 'Never Sell' Stance on Bitcoin

MicroStrategy has made headlines in the cryptocurrency space for its significant investments in Bitcoin. However, during a recent earnings call, the company's CEO, Michael Saylor, revealed that they are considering selling some of their BTC holdings.

The decision to sell Bitcoin is reportedly driven by the need to pay off convertible debts and focus on MicroStrategy's core business. According to Saylor, selling BTC would be more advantageous when the market value of their net assets (mNAV) falls below 1.22.

This move marks a departure from MicroStrategy's previous stance of never selling Bitcoin. The company has been accused of prioritizing its Bitcoin investments over its core business, which has led to concerns among investors.