Saylor's BTC Sales Spark Concerns Despite Bernstein's Bullish Outlook

Michael Saylor's company, Strategy (MSTR +2.39%), holds an impressive 840,447 BTC, representing about 4% of all Bitcoin in circulation.

This has investors concerned due to recent sales, with the latest being 1,690 BTC worth over $100 million in mid-summer.

The company's strategy is not a matter of choice but necessity; it needs to sell BTC to meet its cash obligations and prop up its common and preferred stock.

Strategy claims to have everything under control, with rising dollar cash reserves and a new capital management plan in place.

Bernstein, an investment firm, still maintains a price target of $150,000 for Bitcoin, despite the recent decline.