Key facts
- Strategy CEO Phong Le stated the company could be forced to sell Bitcoin to cover $3.5 billion in preferred obligations due in 2028 if BTC value drops significantly.
- Le defended a recent sale of 32 BTC as a test of internal systems and a tax strategy, not a liquidity measure for dividend payments.
- Strategy holds 845,256 BTC, making it the world's largest identified corporate holder.
- The company's long-term strategy remains focused on increasing Bitcoin per share value.
Strategy CEO Phong Le addressed speculation about the company being forced to sell its substantial Bitcoin holdings, stating that such a scenario is unlikely but possible under specific financial pressures. Le explained that if the company faces $3.5 billion in preferred obligations maturing in 2028 and Bitcoin's value has significantly declined, Strategy might sell BTC to meet these obligations. However, he characterized this as an 'edge case,' noting that refinancing or equity-based solutions are also options.
Le defended the company's recent sale of 32 BTC, valued at approximately $2.5 million at the time, clarifying it was not to cover dividend payments but rather to test internal processes and capture future tax benefits. He highlighted that the market reacted negatively to this small sale while largely ignoring a recent purchase of 1,550 BTC.
Currently, Strategy holds 845,256 BTC, positioning it as the world's largest identified corporate holder of the cryptocurrency. Le reaffirmed the company's long-term strategy, which aims to increase Bitcoin per share value annually, with Executive Chairman Michael Saylor continuing to support Bitcoin acquisitions for the company.