Is Strategy Now Bitcoin’s Biggest Seller? ‘Sell a Kidney’ Jibes Fly as Saylor Breaks His Own Rule

The Kidney Quote Comes Back Around

For years, Michael Saylor’s maxim was the loudest “never sell” awesome successful crypto. In a February 2025 post connected X, arsenic bitcoin slid beneath $85,000, the Strategy Inc. (Nasdaq: MSTR) enforcement president told followers:

“Sell a kidney if you must, but support the Bitcoin.”

That enactment is present being quoted backmost astatine him with Ram Ahluwalia, CEO of concern advisor Lumida Wealth, adding: “Michael Saylor said … merchantability your kidney … but don’t merchantability your Bitcoin. He’s selling the Bitcoin.”

Ahluwalia argued that Strategy has flipped from being bitcoin’s marginal purchaser to its marginal seller and that the reversal is creating a hangover crossed the crypto market. Ki Young Ju, laminitis and CEO of blockchain analytics steadfast Cryptoquant, piled connected with a post of his own: “Now merchantability the Bitcoin and bargain your kidney back.”

Image source: X

The jibes travel Strategy’s disclosure that it sold 3,588 bitcoin for astir $216 cardinal betwixt June 29 and July 5 to money dividends connected its preferred securities and rebuild its dollar reserves to $2.55 billion.

Saylor had already breached from his “never sell” stance successful May, erstwhile helium acknowledged connected an net call that the institution would astir apt merchantability immoderate bitcoin to screen its obligations. After days of being mum, Saylor broke his silence connected the merchantability with a defence of the company’s semipermanent thesis.

The conception Ahluwalia invoked matters for price. The marginal purchaser is the subordinate whose dependable request sets the terms astatine the borderline of the market. Strategy bought billions of dollars of bitcoin done 2024 and 2025, absorbing proviso week aft week. When that bid becomes a root of caller proviso instead, the marginal price-setter changes and, successful Ahluwalia’s telling, the full marketplace feels the withdrawal.

The numbers springiness the statement value arsenic Strategy remains the largest firm holder with 843,775 BTC, much than 4% of the 21 cardinal coins that volition ever exist, acquired astatine an mean outgo of $74,476. Its caller bitcoin monetization programme permits up to $1.25 cardinal successful income for reserves, dividends oregon buybacks, meaning past week’s disposal whitethorn not beryllium the last.

Hangover oregon Healthy Reset?

Bitcoin dropped to a Monday low of $61,246 aft the disclosure but swiftly rebounded supra $64,000 successful the hours after. Moreover, not each organization perceiver has work the merchantability arsenic bearish. Grayscale Research said the disposal boosted Strategy’s dollar reserves to screen astir 17 months of dividend payments and noted that investors are responding positively, with the firm’s STRC preferred banal rebounding aft the news.

That leaves 2 competing narratives astir the aforesaid 3,588 coins. Ahluwalia sees a structural displacement wherever the market’s biggest whale has changed sides (and prices indispensable find a caller equilibrium without its bid) portion Grayscale sees hazard management: a smaller merchantability contiguous to forestall a catastrophic 1 tomorrow.

What happens adjacent apt depends connected whether Strategy sells again. The monetization program’s $1.25 cardinal ceiling gives the institution country for disposals astir six times larger than past week’s, portion immoderate instrumentality to accumulation would reconstruct the bid that Ahluwalia says the marketplace is missing. Until 1 of those happens, the kidney jokes are improbable to stop.