MicroStrategy CEO Could ‘Liquidate $200M In Bitcoin On A Saturday’

Michael Saylor has said that all $400 million of business intelligence firm MicroStrategy’s Bitcoin reserve holdings could be liquidated at any time.

In a Sept. 22 interview, Saylor told Bloomberg that although “volatility isn’t really a reason to sell,” he would not hesitate to dump MicroStrategy’s 38,250 Bitcoin (BTC) at a moment’s notice if an alternative asset’s yields were to jump.

Though MicroStrategy acquired Bitcoin in a carefully orchestrated series of 78,338 separate off-chain transactions, the CEO said offloading them would be much simpler.

“We can liquidate it any day of the week, any hour of the day,” Saylor said. “If I needed to liquidate $200 million of Bitcoin, I believe I could do it on a Saturday.”

MicroStrategy announced on Aug. 11 that it had purchased 21,454 BTC for $250 million, adopting the cryptocurrency as its primary reserve asset. Following the initial investment, the firm bought an additional 16,796 Bitcoin for $175 million.

Its total holdings are now valued at roughly $401.5 million with the crypto asset’s recent 6% drop, meaning a negative 3.2% return after six weeks. However, Bitcoin in general has been on the rise in 2020, up from the $7,000s in January to testing the $11,000 barrier in September.

[image:pixabay]

bitcoin
Bitcoin (BTC) $ 63,757.08 1.48%
ethereum
Ethereum (ETH) $ 3,481.30 0.92%
tether
Tether (USDT) $ 1.00 0.00%
bnb
BNB (BNB) $ 583.85 2.00%
solana
Solana (SOL) $ 131.21 1.33%
staked-ether
Lido Staked Ether (STETH) $ 3,480.01 0.94%
usd-coin
USDC (USDC) $ 1.00 0.06%
xrp
XRP (XRP) $ 0.482222 1.93%
dogecoin
Dogecoin (DOGE) $ 0.123148 0.14%
the-open-network
Toncoin (TON) $ 7.21 1.07%
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)