Ignore the noise, says Strategy ( MSTR ) Executive Chairman Michael Saylor.
With bitcoin and Strategy’s stock continuing their steep slide, Saylor said in a CNBC appearance Friday morning that his company remains committed to its BTC accumulation strategy.
“We are buying bitcoin, we will report our next purchase on Monday morning,” Saylor said, adding that the company is “accelerating [its] buy,” as he suggested that recent activity on the firm’s wallets will show aggressive accumulation.
This remark comes after online speculation earlier on Friday suggested that Strategy had sold bitcoin as bitcoin and MSTR both tumbled. The rumors stemmed from on-chain data showing that BTC is moving out of corporate-controlled wallets.
Shortly after the CNBC appearance, Saylor took to X and said “There is no truth to this rumor.”
As for the jump in bitcoin and what’s next, Saylor — as usual — advised spooked investors to zoom out, noting that just a little more than a year ago, bitcoin was stuck in a $55,000-$65,000 range. Even after the recent dip, bitcoin at $95,000 today is still showing a pretty good return.
“We’ve laid out a pretty strong base of support around here,” said Saylor, who added that he’s comfortable BTC could rally from those levels.
MSTR is down 4% early Friday and below $200, now down nearly 35% year-to-date. Bitcoin is off its worst levels, but still up 5.8% over the last 24 hours at $96,200.
Read more: Strategy falls to weakest in 13 months, but still trades at premium to Bitcoin Holdings
For investors, the rumors were not far-fetched. The strategy now holds more than 641,000 BTC – worth around $22.5 billion – while the company’s market cap has fallen below that value. The gap has pushed MSTR’s market-to-net-asset value (mNAV) below 1, a metric that suggests the stock may be undervalued. In that light, it may seem rational to sell some bitcoin to stabilize the business.
