Michael Saylor Says Strategy Must Be Able to Sell Bitcoin, Not Just Buy It

Strategy must retain the ability to sell Bitcoin when necessary, Executive Chairman Michael Saylor said, outlining how the company could deploy its roughly $4.8 billion cash position across its capital structure.

The cash gives Strategy several options, including purchasing more Bitcoin, repurchasing MSTR common stock or preferred shares, and paying down debt. Saylor said common-share buybacks are not a current priority and would likely be considered only if MSTR were trading at a very deep discount to net asset value (NAV).

Saylor also set expectations for MSTR shareholders around the length and volatility of an investment in the company. He said investors should approach the stock with a time horizon of at least four years and preferably seven to 10 years, while remaining prepared for difficult years along the way.

Source: CoinDesk