Strategy Chairman Michael Saylor, in an appearance on The Wolf Of All Streets podcast on May 10, responded to the "selling Bitcoin" controversy. He acknowledged that the company may indeed sell some Bitcoin when necessary, but stressed that this does not equate to reducing exposure. Instead, it is a crucial part of the overall capital strategy.

Saylor outlined three key reasons: First, if the market and credit rating agencies believed that Strategy would never sell Bitcoin, then the $65 billion in Bitcoin would not be considered a true asset, weakening the foundation of the company's 98% business model. Second, Strategy has billions of dollars in tax-loss carryforwards, and selling high-cost basis Bitcoin can realize these tax benefits to fund preferred stock dividends. Third, in conjunction with instruments like STRC preferred shares, for every Bitcoin sold by Strategy, they can buy back 10—increasing their net position instead of decreasing it.