MicroStrategy Is Not Selling Its Bitcoin, Says New CFO

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MicroStrategy

According to a recent interview with the Wall Street Journal and the company’s newly appointed CFO, Andrew Kang, MicroStrategy’s buy and hold bitcoin strategy will not change despite the recent downtrend.

“At this time, we do not have any intention to sell,” Kang told the WSJ. “There are no scenarios that I’m aware [in which] we would sell.”

Kang went on to ensure that MicroStrategy had not been pressured to sell by any stakeholders, demonstrating that investors are united behind the company and its bitcoin plan. While Kang stated that the company checks the price of bitcoin on a regular basis, he refused to comment on future bitcoin purchases.

“Some of the more recent volatility was certainly around some of the activity outside of bitcoin,” Kang explained. “For us, we monitor that from a market perspective, but there [isn’t] anything fundamental to bitcoin that we believe presents any issues against our strategy.”

Kang further pointed out that recent market volatility would almost certainly lead to additional regulation of the broader cryptocurrency sector, which MicroStrategy supports. The Securities and Exchange Commission (SEC) recently announced a staffing increase for the Crypto Assets and Cyber branch, echoing this sentiment.

Bitcoiners are mostly against regulation as it is expected to worsen the overall consumer experience of bitcoin. Regulation and licensing is seen as a shady corporate tactic that keeps the competition small. For sceptics of such interventionism, licensing is an abuse of the power monopoly for corporate interests that is unfair and results in lowered quality service at higher costs.

The announcement fostered the comment made by CEO Michael Saylor last week as media speculated about possible liquidation scenarios of MicroStrategy’s bitcoin holding.

Michael Saylor had denied that MicroStrategy would be under pressure if bitcoin would further devalue. He also pointed out that people should have a laser focus and not give too much about sensationalism and speculation by the media:


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