🚨😱😱 MicroStrategy Reveals It Will Sell Bitcoin Under These Conditions

MicroStrategy CEO Phong Le has outlined specific conditions under which the company would sell its Bitcoin (BTC) holdings, marking a strategic pivot from Michael Saylor’s famous "never sell" philosophy. The company, which currently holds 818,334 BTC, will now treat its holdings as a tool for "strategic optionality," prioritizing financial math over ideology.

The primary condition for selling BTC is to fund dividend payments for its Series A Perpetual Stretch Preferred Stock (STRC), which carries an 11.5% dividend. Le stated that MicroStrategy would only sell BTC if the move is "accretive to shareholders."

This trigger typically occurs when the company’s stock trades below its book value or when its modified Net Asset Value (mNAV) falls below approximately 1.22. In these scenarios, selling Bitcoin is considered more efficient than issuing new equity to cover the roughly $1.5 billion in annual dividend obligations.

A second condition involves proactive tax management. The firm is prepared to sell portions of its BTC to realize deferred gains or capture tax losses, optimizing its overall tax position.

Despite this shift, Le downplayed concerns regarding the market impact of potential sales. He noted that MicroStrategy’s annual dividend needs are minor compared to Bitcoin's $60 billion daily trading volume. Furthermore, the company maintains manageable leverage of 10-15%. While MicroStrategy owns nearly 4% of the circulating BTC supply, Le emphasized that its divestments would represent only a few basis points of daily liquidity and should not significantly disrupt the broader market.

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