Saylor Faces $370 Million Credibility Debate as Strategy Turns Net Bitcoin Seller
Updated
Updated · TradingView · Jul 10
Saylor Faces $370 Million Credibility Debate as Strategy Turns Net Bitcoin Seller
3 articles · Updated · TradingView · Jul 10
Summary
Chris Irons said Michael Saylor was "talking out of both sides of his mouth" after Strategy shifted from pledging to buy Bitcoin "every quarter forever" to becoming a net seller under a new monetization strategy.
Irons tied that criticism to Strategy's fading emphasis on its once-promoted Bitcoin yield metric as it declined, and to Saylor's roughly $370 million sale of MSTR shares in 2024 through a pre-arranged plan covering up to 400,000 shares.
Lawrence Lepard defended the stock sales, arguing Saylor built Strategy's market value to about $52 billion from $1.4 billion in six years while taking a $1 annual salary.
Both debaters still agreed on the central risk point: Strategy's leveraged structure makes MSTR a riskier way to gain Bitcoin exposure than holding the cryptocurrency directly.