Ross Gerber says Saylor’s Strategy has undermined his faith in Bitcoin, sells most holdings

Skepticism over Saylor’s Approach

Through several posts on X, Gerber directly challenged Michael Saylor, the co-founder of business intelligence firm Strategy, which has accumulated one of the largest corporate Bitcoin reserves worldwide. Strategy’s ongoing use of debt and capital markets to expand its Bitcoin holdings has attracted repeated criticism from Gerber.

Saylor’s tactics have raised doubts for Gerber, especially following reports that Strategy, despite Saylor’s public commitment to never selling Bitcoin, had recently begun liquidating portions of its BTC reserves. Gerber noted his disapproval, stating that he has never sold his own Bitcoin, drawing a stark contrast with Saylor’s company.

Saylor’s involvement with Strategy makes it difficult for me to take Bitcoin seriously anymore, Gerber stated, suggesting that buying Bitcoin at elevated prices and selling at lower ones signals instability in Strategy’s operations.

He also accused Saylor of sending mixed messages, arguing that the company’s actions do not align with Saylor’s public statements about long-term Bitcoin holding. “So do as I say, not what my public company does… buying Bitcoin high and selling low is a company?” Gerber asked.

Questioning Strategy’s Impact on the Market

In a series of posts throughout June and July, Gerber repeatedly criticized what he viewed as Strategy’s negative influence on the crypto market. He attributed Bitcoin’s underperformance partly to Saylor’s decisions, suggesting that selling by major corporate holders could trigger a downward spiral for the asset.

Gerber has previously suggested that large-scale selling by companies such as Strategy accelerates liquidations among smaller investors, intensifying price declines. “Saylor says he’ll never sell Bitcoin. Then rug pulls the market. It goes lower. Creating the negative cycle of liquidation of all the speculators,” he wrote.

He also raised questions about Strategy’s business strategy, wondering if desperate sales indicated a failing approach. “The Strategy is to sell low in desperation? Is Saylor’s silly Bitcoin gig finally up?” Gerber asked last month.

Mini dictionary: Strategy is a US-listed business intelligence company co-founded by Michael Saylor. It is best known for its large-scale Bitcoin acquisitions and plays a significant role in the corporate adoption of digital assets.

Gerber’s Bitcoin Investment History

Gerber first became involved in Bitcoin by 2014, monitoring its growth alongside Ethereum for seven years before participating as an investor. By 2018, he had stated his intention to keep his cryptocurrency holdings, describing Bitcoin as both an inflation hedge and a form of digital gold. These views reinforced his long-term confidence in the asset, even when faced with market downturns.

Despite years of advocacy, Gerber’s opinions changed in early 2025. According to Business Insider, he sold most of his Bitcoin holdings that March, redirecting some of the proceeds into gold as global markets shifted. Gerber’s actions marked a significant departure from his position as a prominent cryptocurrency proponent.

He remarked on social media that the cycle of corporate greed and inconsistent actions among major ecosystem players is harming Bitcoin’s long-term prospects.