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People may panic if he sells. But so many people are so attached to the significant investment Saylor made that they are on a constant 'hopium' mood where Saylor selling is to them as stress provoking as the thought of their life partner breaking up with them. Hell. Saylor is not the Jesus of Bitcoin, wake up. Keep purchasing Bitcoin if you want to hold some hard money and let the rest do what ever they want!
The panic will only lead to more losses, Some people are afraid of Saylor's sale because they think it will have a big impact on the price of Bitcoin.
Even though it is an opportunity to buy at a lower price.
For some reason, people have to stress about Saylor's sales, even though there are some downside impacts that occur,
this is because retailers follow the selling trend, and there continues to be a decline.
Microstrategy wanted to get a cheaper price, so they sold some of their Bitcoin holdings to influence market prices and retailers started panicking.
Once the sale is successful and the market continues to fall, then Strategy will buy again defensively at a cheaper price.