That remark comes after online speculation earlier Friday suggested Strategy had been selling bitcoin as bitcoin and MSTR both tumbled. The rumors stemmed from on-chain data showing $BTC moving out of company-controlled wallets.
Shortly following the CNBC appearance, Saylor took to X, saying "There is no truth to this rumor."
As for the plunge in bitcoin and what's next Saylor — per usual — advised frightened investors to zoom out, noting bitcoin was stuck in a range of $55,000-$65,000 only a bit more than a year ago. Even after the recent plunge, bitcoin at $95,000 today is still showing a pretty great return.
"We've put in a pretty strong base of support around here," said Saylor, who added he's comfortable $BTC could rally from these levels.
MSTR is lower by 4% early Friday and below $200, now down nearly 35% year-to-date. Bitcoin is off its worst levels, but still 5.8% over the past 24 hours at $96,200.
Read more: Strategy Plunges to Weakest in 13 Months, but Still Trades at Premium to Bitcoin Holdings
For investors, the rumors weren't far-fetched. Strategy now holds more than 641,000 $BTC — worth roughly $22.5 billion — while the company’s market cap has fallen below that value. The gap has pushed MSTR’s market-to-net-asset value (mNAV) below 1, a metric that suggests the stock may be undervalued. In that light, selling some bitcoin to stabilize the company might seem rational.
coindesk.com
