Saylor Sold $75K BTC from Treasury to Cover Early Investors

On June 1, news hit the market that Strategy had offloaded 32 BTC from its treasury. It may not sound like much, but it lined up with a 10% drop in Bitcoin's price over just two days. There really wasn't any strong reason for the sell-off, especially with the US keeping discussions with Iran ongoing and Wall Street hitting new all-time highs. In only two days, Bitcoin lost half of the gains it made in April. Michael Saylor used the cash from that BTC sale to dish out dividends to holders of a special class of stock that guarantees payouts. Those very BTC were purchased with funds from earlier investors who bought regular shares. Looks a bit like a Ponzi scheme, if you ask me. The average price of Bitcoin in Strategy's treasury sits at around $75,699. So, new investors are getting paid not from the company's earnings but from the investment of those who came before them. As a result, MSTR stock took a hit, dropping 15%. Next week, Strategy is set to vote on monthly dividend payments, and if things keep going this way, Bitcoin might see more downsides.

It resembles ponzi structure but it is not ponzi and much more better like a good business and bitcoin will never fail. Saylor has a very good plan, that is all that I know. I said this because it plan this in a good. If bitcoin did not fall to $8000, expect Strategy not to be affected. I knew what he did may also have effect on the market, coupled with other things, the market later fall back below $70000 but I know that bitcoin can not fall so much further before rising back. The time for the bear market can still be long, but the extent that the price will fall will not be much.

32 is a small number when viewed in the context of the total holdings. When Bitcoin’s price dropped by 10% over two days, in connection with Saylor’s sale of 32 Bitcoin to pay dividends to special-class shareholders, I don’t think it had anything to do with the decline because, from the sales figures I’ve seen, the volume was still much higher than the buying volume. Perhaps this is meant to address the market’s current status—whether it’s bearish or bullish. If it’s still at $60K, the market isn’t bearish yet. Some analysts estimate that the lowest point is still expected in September–October, as highlighted by @DrProfitCrypto in his X post.

It has a lot to do with the decline. Strategy is the largest bitcoin treasure holders in the world. This is the first time they sold bitcoin, which can even be because of testing and not what they say. Be it anyone, first time sales of bitcoin by the largest bitcoin treasure holder should be expected to lead to this. The market is bearish. You said analysts, they can be either right or wrong. I do not know when the bear market will be over, but when it is time, I will post about it on this forum. I can be wrong though.

I still stand by what I said earlier: I don’t believe that the volume of those sales has had an impact on the current price drop. Before the current trading price, Bitcoin had reached a 24-hour high of $73K—whether that was yesterday or two days ago, if I recall correctly. The amount [32 Bitcoin] sold is too small to be linked to the current decline, even though the sales percentage is high based on the available trading data. Of course, this is just a thought—not something that can be confirmed. It’s possible that if we investigate the cause of the decline, this might be the reason. We’ll always look forward to it with excitement because it will spark discussion, and the discussions that take place will provide new insights.

I agree 32 BTC is a small number, but theorically, it breaks saylor's commitment to never sell his BTC. It means when he in the needs of money, he can liquidate his BTC to get cash in order to pay the dividend to the its stock holders. It's also the reason he got slamed by so many CTs on X. It's also proving his plan is not even running properly. OP. i agree with what you posted above. Saylor ain't in good condition right now. When he decided to sold his btc, it means his cash reserve were down so hard. If we're seeing reserved based on his website, saylor's current cashflow can only cover divided up to 7 months. So it's possible for him to sell more bitcoin, which in resuly another big bearish trend is coming.

32÷840,000= 0.00003809 That is not liqudation of his coins. I believe in free speech so I say your title is anti btc  lying garbage. Come back when he sells 100,000 btc and I would consider value to the title.

I really wish Bitcoin holders were more stable and wouldn't panic every single second. Yes, 32 Bitcoin is small and it couldn't affect the market because Bitcoins, worth billions of dollars are traded every day, so 32 is a drop in the ocean but the real reason is that the largest Bitcoin holder company made its first sell of the Bitcoin, so it created a panic among people but I can't blame Saylor for that, Bitcoin's price is falling too much and there is no positive sign. If he buys back those coins, he makes a profit. Anyways, we shouldn't blame someone for the price. Did Saylor say he would never sell Bitcoins but still sold? It's his job, even if he affected my financial situation, I can't blame him because he did what was good for him and we all know that this market is driven by big guys and their words and actions have a huge impact.

To me it has always been incomprehensible to detect the actual cause or actions that is responsible for the Bitcoin spot prices, instead we have only been relied on Speculations with events that usually occurs within the period based on the market sentiments. However, I can still recall that Saylor had recently talked about selling off some part of the organization BTC holding to settle the institution shareholders and some of us also Speculated how the news was going to trigger investors psychological sentiment to sell due to the potential influence of Saylors in the Bitcoin and crypto market. So in my opinion, the news opted massive sells from other investors following the sell of the 32 BTCs from Saylors. It is also true that the number of sold BTC of Saylors alone can not take hold of this current market decline but may also be accompanied by others massive sell off.

If its a reaction to just one guy and these 32 coins then its overdone but that doesn't mean its not real, markets can move prices and its a weak move but the price goes there anyway.    The graph of BTC failing to hold 75k is weaker then I expected and its not attempting to recover that level but trading down further, now I would assume its going to repeat a visit to the 200 week moving average.  I was thinking earlier of why BTC would lose its hype and there is just so much competition now across the money markets, the AI bubble or movement however you view it is dramatic.  Then all the companies supplying that move also have moved gigantically and it puts BTC into the shade for that kind of attention, the speculators chasing profits are likely fully committed to AI or Quantum or any other attractive prospect.   They may return to BTC some other time but not today so no hype, just leaving the bare and more mundane BTC movement which is still big by itself but often slower so I'll stick to my expectation of this entire year being a revision of prior prices and less hype and grand moves that might have been hoped for.

A lot of people here is saying that MSTR and BTC plunging because saylor is selling his little 32 BTC. For me it's because bitcoin has failed to break out the resistance and has been retesting nearest and its strongest support for quite a long time. Even without Strategy sell off the market will go down regardless.

Yes, I do agree that 32 BTC is just a drop in the ocean for the huge BTC that they hold. However, it could have a ripple effect already as what we have seen since this unravel a couple of days ago with regards to their sell-off. Regardless though, they might have just testing the waters. But the timing of the sell-off in the bear market. I was just thinking that if it has been done during the bull run, perhaps the price will also decline because of the big influence of Saylor in the BTC ecosystem.

If we break our commitment by selling 32 Bitcoins because Saylor doesn't want to sell Bitcoins, we can see or maybe we have broken it after thinking about it, that could be a solution to what we are experiencing. They criticized Saylor at We couldn't afford to ignore all that if Saylor were in our shoes.

I would say it was just a test, to see what happens, not the goal of selling 32 bitcoins, but the idea he had was to see what happens when he sells. And he realized he crashes the market, and not like he can secretly sell them, he could sell them publicly very quickly before anyone realizes, but he can't secretly do it, because he is a public company. But the sad thing is that, people will crash it, so he can't sell that much bitcoin, the entire portfolio he has, without bankrupting bitcoin for a moment. We will recover, it would be actually better not to have a big whale like that, but it will not be easy to recover and will take time and he will have to sell a lot lower than the market to be able to sell all of it.

It might not be just Strategy's dump that trigger this drop. The news of Mt. Gox moving 10,422.65 bitcoin worth about $739 million to new wallets a few days ago might have also contributed to the drop. The defunct exchange has until October 31, this year to complete creditor repayments. Michael Saylor's position of not selling Bitcoin might have created a shock in the market after the small sell.

If Bitcoin deviates even slightly from the pattern it has followed for years, Saylor will have a lot of work to do. Right now, things are proceeding on the assumption that Bitcoin will increase by a certain amount each year, but nothing is impossible with Bitcoin. In a scenario where we can’t break above $75,000 again for several years, Saylor’s job will probably be over. I think their costs could have been lower because they bought a lot when Bitcoin was above $100,000.

Looks like the structure of ponzi as you say but the early money that came from early investors were utilized, spent and invested properly. And that's why they're also getting paid for it and it's not the fault of the new investors if they are about to get paid with their dividends. That's the deal on investing with them. And Strategy did well in managing that although I don't think that looks good when in paper currently they're dealing with a paper loss of around $9.5B.

I do not like Saylor.  But he had a purchase worth over 1 BILLION Dollars earlier this year.  Being afraid because he sold around 2 Million Dollars and a half does not make sense.  What will you do when he sells as much as he purchases this year in one single turn?  Explode? He will not buy and hold Bitcoin FOREVER.  That is clear.  But what is also clear is that this 32 Bitcoin sale has no thing to do with the Bitcoin 'death spiral' we are looking at.

The 32 BTC didn't move the market, weekly order flow dwarfed it. Worth correcting the framing on the dividends though. Per the June 1 8-K, those proceeds funded the cash distributions on the preferred stack (STRF and STRC), not payouts to ordinary shareholders, and it was the company's first BTC sale since 2022. The real driver of the drop was demand: spot bitcoin ETFs ran 13 straight days of outflows near $4.4B, with BTC at its weakest since October 2024. A 32-coin sale is noise against that.

Whenever I hear glowing praise for the prospects of any asset, I am always reminded of the history of railway stocks.