Strategy CEO clarifies Bitcoin sale conditions: only sell when it benefits shareholders

Mars Finance News, Strategy CEO Phong Le confirmed that the company will only sell Bitcoin under specific conditions. Previously, Executive Chairman Michael Saylor hinted at possibly selling Bitcoin to pay dividends, causing MSTR stock to drop 4%. Le stated that the decision to sell is mainly related to Series A perpetual preferred stock Stretch (STRC, 11.5% dividend rate). The company will execute sales only when it is more advantageous for shareholders than issuing stock to pay dividends, with specific trigger conditions being the stock price below book value or mNAV below approximately 1.22. The second condition involves tax management, including realizing deferred gains or capturing tax losses. Le emphasized that the company’s leverage ratio is about 10%-15%, with a multiplier of approximately 35%, and its financial situation is manageable. Strategy currently holds 818,334 BTC, with an average price of about $75,537, making it the world’s largest publicly traded Bitcoin holder. Le pointed out that Bitcoin’s daily trading volume exceeds $60 billion, while the company’s annual dividends are only about $1.5 billion, so liquidity is not an issue, and he stated, “I believe in mathematics rather than ideology.”