So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
I wouldn't count any of his actions as a deviation from the overall plan. He could have various incentives to sell these shares. I don't know what his fortune consists of, but if it is shares only more or less, I think at some point I would do the same and divest from shareholdings and use the proceeds to either diversify or to infuse some privacy into his portfolio. If the world can tell what your wealth consists of, maybe at some point he wanted to cash out some of those shares and even if he goes back into BTC with the money, at least those wallets do not necessarily have to be public. I would still look at his long-term actions, but at the end of the day he is a business man and he knows that selling a narrative is part of the marketing toolbox. That doesn't make it a marketing gag when he says that he wants to buy BTC forever. But of course he is sending a certain kind of signals to investors. I haven't had a look at whether or not it had an impact on the share price or whether it will have some impact down the road if he decides to sell more, but hard to tell as an outsider whether what he has done now should be considered a deviation from the plan.