Key Highlights:
- Jim Cramer criticizes Michael Saylor in a recent X post.
- Strategy raises its Bitcoin holdings to 650,000 BTC and announces establishment of $1.44 billion cash reserve.
- Strategy CEO Phong Le says that if the time comes, the company may sell its BTC.
Jim Cramer, a popular crypto market expert has suggested that MicroStrategy might change the way it handles its Bitcoin holdings. MicroStrategy (now known as Strategy) has always been known as a company that buys and keeps Bitcoin for the long term, which is led by its founder Michael Saylor, who is a Bitcoin maximalist. Due to his thinking and belief, the company now owns one of the biggest Bitcoin reserves among corporations. However, a few comments from the top leadership has spread a sense of fear within the market.
Why do people think that Michael Saylor is going to tell you what he is going to do next with Strategy. this guy has nine lives because he is a master poker player and we are all knaves. I think he could engineer a squeeze of a lifetime by going the opposite of what he says
— Jim Cramer (@jimcramer) December 2, 2025
MicroStrategy’s Latest Financial Moves and Market Sentiment
MicroStrategy revealed yesterday, December 1, 2025, that the company has gathered almost 650,000 BTC which are valued more than $58 billion. Along with this announcement, it also made public that the company has added a cash reserve of $1.44 billion to mitigate risks amid volatile crypto markets.
The main aim of this reserve is to bring down the likelihood of forced Bitcoin sales, which had been speculated as a possibility due to the company’s financial obligations and the recent sharp decline in Bitcoin’s price.
$MSTR announces the formation of a $1.44 billion USD Reserve and an increase in its BTC Reserve to 650,000 $BTC. pic.twitter.com/e1tAhDUo9G
— Michael Saylor (@saylor) December 1, 2025
Even though the company is doing everything in its power to make sure that they do not have to force Bitcoin sales from their treasury, but the market is still anxious. The Fear & Greed Index sits at 23, which indicates widespread fear amongst the investors.
Saylor’s Poker Face
Jim Cramer’s recent comment on social media platform X is suggesting that people should not assume that Michael Saylor will openly reveal his next Bitcoin move. He compared Saylor to a poker player who never shows his cards and always stays a step ahead.
According to Cramer, Saylor may say one thing publicly but then do the complete opposite at the right moment to catch the market off guard, possibly even trigger a squeeze. Cramer believes Saylor’s strategy is to keep people guessing.
CEO’s Potential Strategy Shift
The current CEO of Strategy, Phong Le, accepted in an interview with Danny Knowles that if something extremely serious happens, selling could be an option, but only as a last resort.
Right now, instead of touching their Bitcoin, the company is collecting and storing a large amount of cash. This acts like a financial safety cushion. By having a strong cash reserve, they can avoid situations where they are forced to sell Bitcoin just to stay afloat.
The $60 Billion Bitcoin Bet | @Strategy CEO Phong Le https://t.co/H216CRFggP pic.twitter.com/w0WBg42PaD
— Michael Saylor (@saylor) November 28, 2025
He commented “We can sell Bitcoin and we would sell Bitcoin if we needed to to fund our dividend payments below 1xmf. Uh and that would be by definition if BTC yield is our north star, right? And that’s sort of what what what our key our primary KPI is. Just like earnings per share might be an important KPI for a traditional company. then under 1x MNAV it’s more creative to BTC yield to sell our Bitcoin uh to to pay the dividends and so we would do it in that case.”
The CEO also explained that they would only think about selling Bitcoin if the company’s overall financial value (mNAV) drops to a danger level (basically close to a point where the company is worth only as much as its assets on paper). If that 1x threshold is ever reached, then selling a portion of Bitcoin might be necessary. But as of now, that scenario is not on the table.
If at all there comes a time when Strategy has to sell a large chunk of its Bitcoin, there is a huge possibility that it could trigger a great downturn as Cramer predicted because there will be a huge supply shock in the market because of the selling.
The community on the other hand is split as some fear panic selling and others see a big dip as a buying opportunity but the overall sentiment is tense.
Also Read: Bitcoin Surges Above $92,000 Amid Turmoil in Crypto Market
