According to Bloomberg, JPMorgan stated that after Strategy adjusted its financing policy, the market must face the risk of it shifting from a major buyer of Bitcoin to a potential seller. The report said that Strategy selectively sells Bitcoin to pay preferred stock dividends and manage its balance sheet, bringing an avoidable two-way flow risk to the market; to reduce the likelihood of future Bitcoin sales, Strategy needs to maintain liquidity sufficient to cover dividend payments for two to three years. JPMorgan stated that Strategy has bought approximately $8.2 billion worth of Bitcoin this year, accounting for about 70% of the estimated net inflow of digital assets year-to-date, and its holdings represent approximately 4.2% of the total Bitcoin supply.