Alex Krüger|Jun 07, 2026 23:35
Consensus seems to believe that if Saylor did not sell a lot of BTC last week (e.g. $2B), then bitcoin is doomed.
I don't see it what way.
Saylor has one job, and one tool. To accumulate BTC, by tapping capital markets.
If he were to sell (or have sold) $2B of BTC after buying $2B at $80,985 in the week of May 12–18, for a 20% loss, that would represent a major blunder.
One thing is to sell a little to harvest tax losses. An entirely different thing is to blow up $400 million in 2.5 weeks by buying & selling BTC like a degenerate gambler.
Best case scenario: BTC just goes up a lot, all problems solved.
Bad case scenario: BTC fails to rally, Strategy lowers the dividend on STRC to make it sustainable.
Worst case scenario: Strategy dumped/dumps BTC, shows the world the largest BTC holder, with 4% of the total supply, compounds mistakes, is unreliable, and can't be trusted in doing what it is supposed to be doing: accumulating BTC.
Nightmare scenario: Strategy dumped, but not enough.(Alex Krüger)
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