MicroStrategy CEO could 'liquidate $200M in Bitcoin on Saturday'

Michael Saylor has said that all $400 million of business intelligence firm MicroStrategy's Bitcoin reserve holdings could be liquidated at any time.

In a Sept. 22 interview, Saylor told Bloomberg that although "Volatility isn't really a reason to sell," he would not hesitate to dump MicroStrategy's 38,250 Bitcoin at a moment's notice if an alternative asset's yields were to jump.

Selling such a large amount of the crypto asset could easily cause a significant price drop, as happened in June when whales reportedly caused the price of Bitcoin to fall under $9,000.

Though MicroStrategy acquired Bitcoin in 78,338 separate off-chain transactions, the CEO said offloading them would be much simpler.

"If I needed to liquidate $200 million of Bitcoin, I believe I could do it on a Saturday."

Following the initial investment, the firm bought an additional 16,796 Bitcoin for $175 million.

Bitcoin in general has been on the rise in 2020, up from the $7,000s in January to testing the $11,000 barrier in September.

Though initially claiming "Bitcoin's days are numbered" in 2013, Saylor has since become a major advocate for crypto, even seemingly embracing a Bitcoin maximalist mindset in a Sept. 20 tweet by calling BTC one of the few "Crypto-asset networks."

"We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold," the CEO told Bloomberg.

He predicted that other companies would likely invest in Bitcoin within six months.