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.