Michael Saylor built his entire identity around one promise: he would never sell Bitcoin. Last week, that promise ended.
Strategy's board voted to authorize selling Bitcoin to cover dividend payments and build cash reserves — in the middle of MSTR and STRC crashing to record lows, the yield blowing up, and confidence in the whole experiment starting to crack.
Is this a rational pivot? Or the beginning of the end for the world's largest corporate Bitcoin treasury?
This week on The Defiant, I sat down with Scott Melker and Kaleo to get into all of it: the hollow signaling, the STRC question, whether Saylor should rip the Band-Aid and sell billions now — and what any of this actually means for Bitcoin.
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