Strategy CEO Addresses Bitcoin Sale Concerns, Says Forced BTC Sell-Off Is Unlikely

Strategy CEO Phong Le has addressed growing concerns about whether the company could eventually be forced to sell its massive Bitcoin holdings, while also defending the firm's recent sale of 32 BTC.

Speaking in an interview with crypto analyst Scott Melker, Le explained that the most realistic scenario in which Strategy might need to sell Bitcoin would involve its financial obligations tied to approximately $3.5 billion in preferred securities maturing in 2028. According to Le, if Bitcoin’s price were to decline significantly and the company’s stock value remained under pressure at that time, Strategy could consider selling some of its Bitcoin reserves to meet those obligations.

However, he emphasized that such a situation remains an unlikely “edge case.” Le noted that the company has other options available, including refinancing debt or converting obligations into equity, reducing the likelihood of a Bitcoin liquidation.

Strategy currently holds 845,256 BTC, making it the largest publicly identified corporate Bitcoin holder in the world. Le reiterated the company’s long-term commitment to Bitcoin despite ongoing market speculation.

The CEO also responded to criticism surrounding Strategy’s recent sale of 32 BTC, worth roughly $2.5 million at the time. Some investors suggested the transaction indicated liquidity issues or difficulty meeting dividend commitments. Le rejected those claims, explaining that the sale was conducted primarily to test internal operational processes, familiarize the market with occasional Bitcoin sales, and potentially create future tax-loss opportunities.

He stressed that the sale was not intended to fund dividend payments. Le also pointed out that critics focused heavily on the 32 BTC sale while largely ignoring the company’s subsequent purchase of 1,550 BTC.

Despite annual dividend obligations of approximately $1.7 billion, Le said Strategy’s capital structure and access to liquidity provide sufficient flexibility to meet its commitments. He expressed confidence in the company’s financial position and stated that dividend payments are not a source of concern.

Looking ahead, Le reaffirmed Strategy’s long-term objective of increasing Bitcoin per share value. While short-term fluctuations may occur, the company remains focused on expanding shareholder exposure to Bitcoin over time. His comments align with recent statements from Strategy Chairman Michael Saylor, who has repeatedly emphasized the company’s commitment to acquiring additional Bitcoin.