Michael Saylor shot down rumors that Strategy was selling bitcoin as both the cryptocurrency and his company's stock tumbled Friday.
"We are buying bitcoin, we'll report our next buys on Monday morning," Saylor said during a CNBC appearance. He added the company is "accelerating purchases" and hinted recent wallet activity will show aggressive accumulation.
Shortly after the interview, Saylor posted on X: "There is no truth to this rumor."
Online speculation Friday suggested Strategy had been selling bitcoin. The rumors stemmed from on-chain data showing BTC moving out of company-controlled wallets.
With both bitcoin and MSTR stock in steep declines, traders jumped to conclusions about the wallet movements.
MSTR stock fell another 4% early Friday, trading below $200. The stock is now down nearly 35% year-to-date.
Bitcoin dropped 5.8% over 24 hours to $96,200, though it bounced off its worst levels.
Saylor advised frightened investors to take a longer view. He noted bitcoin was stuck in a $55,000-$65,000 range just over a year ago.
"We've put in a pretty strong base of support around here," Saylor said. He added he's comfortable bitcoin could rally from current levels.
Even after the recent plunge, bitcoin at $95,000 still shows strong returns compared to that range.
Saylor is doubling down on bitcoin buying despite Strategy's stock plunging 35% this year, dismissing selling rumors as "no truth" and promising to report accelerated purchases Monday. His "zoom out" message to spooked investors emphasizes bitcoin's gains over the past year even as both BTC and MSTR continue sliding.
