MicroStrategy’s recent sale of 32 bitcoin, its first in nearly four years, sparked criticism and market concerns. The company stated the sale was necessary for corporate obligations. In response, analysts Lyn Alden and Samson Mow defended Bitcoin’s resilience, arguing its design allows for large purchases without central control.
**MicroStrategy** sold a fraction of its bitcoin holdings to support preferred stock distributions. This marked the company’s first sale in approximately four years, involving 32 BTC. The sale occurred when bitcoin was priced above $75,000.
The cryptocurrency’s price later declined to around $59,100, a 19-month low. Some commentators, including Jim Cramer, publicly blamed MicroStrategy and Michael Saylor for the drop. Saylor reasserted he never said his company wouldn’t sell if necessary.
Financial author Lyn Alden defended bitcoin against this narrative on social media. “If all it takes to kill bitcoin is a bullish entity that likes it enough to buy, then go home,” she asserted. Alden suggested the asset’s failure under such conditions would mean it wasn’t meant to be.
Samson Mow, CEO of Jan 3, agreed with Alden’s statement. He argued that bitcoin is not a proof-of-stake system. Mow stated that ownership does not confer control and that bitcoin was designed for this.
