Many people were shocked by Saylor selling 32 BTC. But first, let’s clarify the core premise behind his selling: It’s to pay dividends for preferred shares. This sets an upper limit on the scale of BTC sales. Let’s break it down: - STRC annual dividends: $1.2 billion - STRD, STRF, STRK, etc.: $500 million That’s roughly $1.7 billion in annual dividends, averaging $140 million per month, which is about 2,000 BTC/month at the current price. For the overall BTC market liquidity, this is ant-level in scale. This trial run caused BTC to drop below $70,000, MSTR to fall 6%, and the market panic far exceeded the actual event itself. The main reason? The “never sell BTC” narrative was broken. People overreacted to extreme scenarios rather than actual liquidity issues.