Strategy Sold 32 Bitcoin to Test Selling Process, Offset Taxes
Strategy sold 32 Bitcoin mainly to test its internal selling process and “inoculate the market,” Chief Executive Officer Phong Le said in a June 11 CNBC interview. Le said the trade also generated tax losses that can be used to offset related taxes.
Le said the sale was not meant to fund dividends because the company has other financing channels, but that Strategy may sell Bitcoin if doing so benefits common shareholders. The comments add detail to Michael Saylor’s earlier explanation that the disposal did not contradict his “never sell your Bitcoin” message because he said that advice was aimed at individuals rather than the company.
From the sources (7 posts)
@tftc21Michael Saylor on stage at BTC Prague explains why Strategy sold 32 BTC: "A troll on Twitter said, 'You said never sell your Bitcoin.' Fine, I'll destroy a hundred billion dollar company so I don't sell my Bitcoin? I said to you, never sell
@mert"I said to YOU to never sell your Bitcoin. I never said that I wouldn't sell Bitcoin" - Michael Saylor lmao
@laurashinRT @AutismCapital: “I said to YOU to never sell your Bitcoin. I never said that THE COMPANY wouldn’t sell its Bitcoin.” Jesus Christ. htt…
@cointelegraph⚡️ NEW: Michael Saylor explains his 32 $BTC sale, “I said to you never sell your Bitcoin, I never said that the company wouldn’t sell its Bitcoin.”
@chooserichI understand why they sell Bitcoin but him being a condescending asshole to people saying “only idiots would think the company would never sell” is nuts Does lying convince more people to buy your stock??
@saylorRT @phongle: My conversation with @scottmelker on @YahooFinance on @Strategy, the largest holder of Bitcoin in the world, why $GOOG and $MS…
@wublockchainStrategy CEO: We Sold 32 BTC to Inoculate the Market and Test Our Selling Process Strategy CEO Phong Le @phongle said in a June 11 interview with CNBC that the company sold 32 BTC mainly to inoculate the market and test its internal sell