Will MicroStrategy sell coins? Strategy CEO admits: If financing is difficult, selling BTC will be the last resort.

MicroStrategy, the world's largest independent holder of Bitcoin, has recently become a focal point for investors due to concerns over its weak stock price and substantial dividend payouts. CEO Phong Le rarely admitted that if the company's mNAV remains below 1 for an extended period and financing channels dry up, “selling some BTC” will become the last resort to maintain the company's finances.

Strategy to activate the coin selling mode? CEO names two major trigger conditions

Strategy CEO Phong Le stated in a recent interview on the What Bitcoin Did Podcast that he would have to consider selling a portion of BTC once two conditions occur simultaneously:

The stock price has fallen below the net asset value per share (mNAV < 1)

The source of external capital has disappeared, and it cannot be issued or borrowed.

He emphasized that the company does not intend to change its long-term bullish Bitcoin strategy; rather, selling coins will become a “mathematically reasonable” action under capital pressure to avoid severe dilution from issuing new shares and to be accountable to its shareholders:

This is a last resort, I do not want to be a company that sells Bitcoin. But when the market becomes harsh, financial discipline must outweigh emotions.

Annual payment of 800 million dollars in dividends! Strategy financial pressure rising rapidly.

The strategy is to issue five preferred stocks this year with an annualized dividend yield of over 8%, resulting in a fixed dividend burden of $750 million to $800 million for the company each year.

Official data shows that at the current Bitcoin price of $86,000, the company has enough funds to pay 70 years of dividends, and as long as the Bitcoin price increases by more than 1.42% per year, it can fully offset MicroStrategy's annual dividend payments.

Phong Le stated that the company's first choice is still to raise funds through the premium issuance of shares: “The goal is to get the market used to the ability of the Strategy to provide stable dividends even in a bear market.”

( MicroStrategy raised 20.8 billion dollars this year, paying 72 years of dividends without any problem )

What do the “green dots” on Michael Saylor's chart imply?

Michael Saylor, the founder of MicroStrategy, stated in an interview last week that regarding whether Bitcoin's retracement of this year's accumulated gains would pose financial pressure on the company: “MicroStrategy is meticulously designed to continue operating even under an 80% to 90% drop, we can say that we are almost impervious.”

( Saylor is not afraid of Bitcoin's 90% drop; “MicroStrategy is unbreakable,” Schiff pessimistic: it will eventually go bankrupt )

However, Saylor posted a chart of his company's Bitcoin purchases on X last night, along with the phrase: “What if we start adding green dots?” This made the Asian regions break out in a cold sweat, as the Taiwanese and Japanese stock markets have always used green as a symbol for “declining or selling,” leading to speculation about the underlying meaning.

However, some netizens have compiled articles from previous years, pointing out that Saylor has already published similar content multiple times, but nothing has ever happened.

Is Bitcoin still the ultimate asset? CEO: The global market wants it.

Despite concerns about the financial structure, Phong Le reiterated that the core belief of the Strategy has not changed. He pointed out that Bitcoin, due to its non-sovereign nature, limited supply, and strong cross-border demand, remains the most valuable reserve asset in the long term.

People from all over places such as Australia, Turkey, Argentina, the United States, Vietnam, and South Korea want Bitcoin.

In other words, the long-term strategy of Strategy is still to continue buying, and will not easily press the sell button unless faced with extreme financial pressure.

Will MicroStrategy sell coins? Strategy CEO admits: If financing is difficult, selling BTC will be the last resort. Originally appeared in Chain News ABMedia.