MicroStrategy CEO Phong Le confirmed the Bitcoin (BTC) treasury firm will sell BTC only under specific conditions.
The remarks followed Executive Chairman Michael Saylor’s earlier suggestion that Strategy might sell Bitcoin to cover dividends. The comment triggered a 4% drop in MSTR shares and rattled the market.
Stretch (STRC) Reshapes MicroStrategy’s Bitcoin Playbook
The first condition relates to Strategy’s Series A Perpetual Stretch Preferred Stock, also known as Stretch (STRC). The instrument carries an 11.5% dividend.
Stretch shifted the calculus, according to Le. The CEO said in a CNBC interview that the product opened strategic optionality.
This lets Strategy weigh Bitcoin sales against equity issuance for dividends. He emphasized that the firm would only sell BTC to fund yield payments if the move is accretive to shareholders.
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The second condition covers tax management, with the firm prepared to sell to capture deferred gains or tax losses. Meanwhile, Le also defended the company’s financial position, stating that Strategy’s leverage remains manageable.
The pivot reverses Saylor’s “never sell” stance. Strategy first signaled the change during its Q1 2026 earnings call. It disclosed a net loss of $12.54 billion. Le framed the shift as a pragmatic calculation rather than an ideological retreat.
MicroStrategy Downplays Market Impact of Potential Bitcoin Divestments
Strategy is the largest publicly traded corporate holder of Bitcoin. The firm currently holds 818,334 BTC acquired at an average purchase price of around $75,537 per coin.
Addressing concerns about liquidity and the market impact of potential Bitcoin sales, Le argued that Strategy’s dividend obligations are relatively small compared to Bitcoin’s daily trading volume.
Le added that despite Strategy owning nearly 4% of Bitcoin’s circulating supply, the company does not believe its trading activity significantly moves the market in either direction.
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The post MicroStrategy Reveals It Will Sell Bitcoin Under These Conditions appeared first on BeInCrypto.
Source: https://beincrypto.com/microstrategy-bitcoin-sale-conditions-ceo-comments/
