Michael Saylor Defends Strategy’s Sale of 32 Bitcoin as Necessary for Digital Credit Business

MicroStrategy chief executive Michael Saylor explained that the company’s recent sale of 32 Bitcoin – averaging $77,135 per coin for a total of about $2.5 million – was driven by the need to fund its digital‑credit operations. Speaking at the BTC Prague conference, Saylor said the firm must retain the ability to liquidate assets to meet obligations tied to its STRC preferred‑stock credit product and other Bitcoin‑backed offerings. He clarified that his long‑standing personal advice to “never sell Bitcoin” was not a corporate promise; the company has always disclosed that it can sell Bitcoin when business needs arise. The announcement caused a roughly 6 % drop in MicroStrategy’s MSTR shares. Saylor also highlighted the broader “digital credit” market, claiming it could generate returns up to 8 % and attract billions of dollars into the Bitcoin ecosystem. The sale coincided with a stress event for a synthetic stablecoin (apxUSD) that uses STRC as collateral, underscoring the volatility risks of asset‑backed crypto products.