Strategy CEO Michael Saylor has caused some backlash on X after seemingly joking about selling kidneys following Bitcoin's massive crash below the $80,000 level.
"Sell a kidney if you must, but keep the Bitcoin," he said on X.
Some have commented that the joke went too far. One user initially thought that this was a parody account before realizing that this was a real post.
"Saylors out here trying to have people sell their kidneys so that his investors don’t take both of his and feed him to the fishes," another X user said.
Back in 2021, the former Strategy CEO famously urged people to mortgage their houses to buy more Bitcoin. Back then, Bitcoin was trading at roughly $57,000.
The viral comment attracted plenty of backlash back then due to its recklessness when the cryptocurrency collapsed in 2022. Saylor, however, claimed that it was not bad financial advice, defending his statements.
Will Strategy be a forced seller?
Strategy went on a massive accumulation spree over the past several months, with its total Bitcoin holdings approaching the staggering 500,000 BTC mark.
The company's average price currently stands at $66,350. If the current downtrend continues at such a rapid pace, the MSTR stock could end up being underwater in the near future.
However, Vetle Lunde of K33 Research says that Strategy is still "years away" from being a forced seller even if the price of Bitcoin plunges: "Keep seeing MSTR’s average entry price pop up more frequently on my timeline. It's irrelevant. We're still years away from any scenario where MSTR would be a forced seller, and their average entry price is just noisy engagement material."
Vladislav Sopov
Dan Burgin