Michael Saylor doubled down on his Bitcoin conviction today, but MicroStrategy CEO Phong Le sold roughly $11.1 million in company stock tied to the same exposure. The timing drew attention across crypto markets. Saylor posted his message as Bitcoin hovered just above $60,000, hours after a brief break below that level. He argued the AI capital boom validates Bitcoin rather than threatening it. However, a regulatory filing shows that on June 5, Le filed to sell 93,738 MSTR shares at a weighted average near $118.73, for proceeds of about $11.1 million. The sale may not be a bearish call—it covered the tax bill on 190,740 performance stock units that vested on June 3. Those units paid out at 200% because Strategy's three-year total return ranked in the top quartile of the Nasdaq Composite. The reward for outperformance landed in the worst week of the year. MicroStrategy trades as a leveraged Bitcoin proxy, and the sale, though automatic under a Rule 10b5-1 plan set in May 2024, raised concerns. Critics have long warned about a MicroStrategy problem for Bitcoin, and the move reopened the maximalism debate among holders.

Key facts

• MicroStrategy CEO Phong Le sold $11.1M in stock, covering taxes on vested performance units.
• Michael Saylor reaffirmed Bitcoin as premier long-term asset amid market uncertainty.
• Sale executed via automatic 10b5-1 plan set in May 2024, but timing raised concerns.
• MicroStrategy recently sold 32 BTC for dividends, its first Bitcoin sale since 2022.
• Bitcoin briefly dipped below $60,000, a key psychological level, before recovering.

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