Quoth the Raven
· QTR’s Fringe Finance
· June 05, 2026 at 12:30
· ⏱ 1 min read
| Read on Substack ↗
Summary
The article argues that even the most committed Bitcoin advocates have a price at which they would sell, contrary to the 'never sell' narrative. This is illustrated by Michael Saylor selling 32 Bitcoin in May and by Saifedean Ammous admitting there is a price that would cause him to abandon his thesis, undermining the idea of unconditional holding. For markets, this suggests that Bitcoin's price floor from die-hard believers is less reliable than assumed, potentially increasing downside volatility during stress.
•Michael Saylor, synonymous with indefinite Bitcoin holding, sold 32 Bitcoin at the end of May, contradicting his own narrative.
•Saifedean Ammous, author of The Bitcoin Standard, was asked whether there is a price at which he would sell and admit his thesis is wrong; his answer surprised the author and would likely surprise Bitcoin bulls.
•The article claims that 'everybody's got a number' and that the idea of true believers never selling is a persistent but incorrect narrative.