Michael Saylor posted a cringeworthy Q2 earnings call video this week, prompting an avalanche of criticism from Bitcoiners who are getting increasingly sick of Strategy selling bitcoin (BTC).
The AI-powered clip, created by “truth seeker maximalist” Alexes Nakamoto, features Strategy shareholders, including Head of Bitcoin Chatanya Jain, Chief Financial Officer Andrew Kang, and CEO Phong Le, dancing along to a rap “delivered” by Saylor in a bizarre semi-British accent.
The clip didn’t go down well with a community that’s growing increasingly frustrated at Strategy’s BTC sell-off, which has seen it shed 5,258 BTC (~$320 million) so far this year.
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Strategy sold its first 32 BTC in May, then from June, it offloaded another 5,226 BTC.
One X user responded to the video, “I would like to never buy BTC again in my life after watching this,” while another asked, “Am I the only one who found this a little cringe?”
Others reminded Saylor that there’s still time to take down the video, while one declared, “Man what a day for the blind and deaf.”
Saylor’s lyrics go, “Maybe the best way to buy the most BTC is not to buy the most BTC. I’m gonna sell one, and then I’m gonna buy 10. You want us to sell none, and somehow buy 11 with money conjured by a genie underneath the desk.”
The Strategy founder has shared similar remixes and raps in the past, each of which attracted similar criticism, suggesting that he knows the content is embarrassing and wants it that way.
He also likes to post AI-generated images depicting himself in heroic poses and situations, many of which, like an image of Saylor fleeing a sinking ship, have aged terribly as the company began to sell its BTC.
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Saylor distances himself from HODL claims
The backlash has become visceral enough to warrant a response from Saylor, who felt the need to clarify that he hasn’t specifically sold BTC from his personal wallet.
He posted on August 3, “When I say ‘Never Sell Your BTC,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet.”
Strategy currently holds 842,138 BTC, worth almost $59 billion.
The company’s CEO, Phong Le, said during the call that, “In the second quarter of 2026, Strategy strengthened its balance sheet while navigating a meaningful bitcoin price decline.
“We grew our BTC holdings by 11% to 846,000 BTC, reduced our convertible debt by 18% to $6.7 billion, increased our USD Reserve by 12% to $2.4 billion, and grew BTC Per Share by 5%.”
Saylor added, “In the midst of this phase of muted BTC sentiment and market skepticism, we continue to evolve our business model and establish digital credit as a new asset class. Our plan is to return STRC to health with stable demand, high liquidity, and low volatility trading near par.”
The firm revealed it suffered operating losses of $8.33 billion, of which $8.32 billion was made up of an unrealized loss on its digital assets.
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