Ahmet Bedirhan Arvas 
MicroStrategy executive Phong Le recently spoke about the crypto world and the Bitcoins held by MicroStrategy. First, he expressed clarity regarding the company’s perspective on its Bitcoin assets. Then, Le stated that the company would only liquidate its Bitcoins if “there is no way out, that is, in a state of desperation.”
What Does “Last-Resort” Mean?
Phong Le emphasized that the company’s strategy of buying and holding Bitcoin is inherently long-term, and that this approach is both intentional and necessary. The desire to sell is not the company’s main strategy; rather, it would only be an option in case of necessity. A possible scenario in such a case can be described as follows:
If the market value of MSTR shares falls below the company’s net asset value (NAV) and the company cannot find other sources to meet dividend or debt obligations. In such a situation, selling Bitcoin would be considered “mathematically” justifiable. However, Le does not expect this to happen easily.
This article may also interest you: Are Low Stablecoin Yields a Signal for Ethereum’s Rise?
Saylor’s Bitcoin Purchases Continue
Despite the decline in share prices, there is no change in MicroStrategy’s Bitcoin-based roadmap.
The company’s founder and chairman, Michael Saylor, reiterated his commitment on X, stating that he will not back down.
On November 17, the company announced the purchase of 8,178 Bitcoins. The value of this purchase is $835.6 million, representing a significant increase compared to previous weeks, as recent weekly average purchases were around 400–500 BTC.
With this latest acquisition, MicroStrategy’s total Bitcoin holdings have risen to 649,870 BTC, valued at approximately $56 billion at current prices.
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