The company is ready to abandon its “never sell” bitcoin principle under certain conditions. Sales may be used for dividend payments or tax loss harvesting.
Strategy CEO Phong Le stated that the company is ready to abandon its “never sell” bitcoin (BTC) principle and will begin liquidating part of its reserves if doing so proves more beneficial to shareholders than issuing additional equity.
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“At the point where selling crypto assets instead of equity to pay dividends becomes more accretive both from a bitcoin per share standpoint and from a stakeholder perspective, we will do it,” Le told CNBC.
“We Believe in Math, Not Ideology”
Le emphasized that Strategy will take a flexible approach to balance sheet management. Sales may be used not only for STRC dividend payments but also for tax loss harvesting, currently representing $2.25B in economic value.
At the same time, the company intends to remain a net buyer. Michael Saylor previously noted that even if Strategy sells one bitcoin, it would buy 10 to 20 BTC▼$62,317.00 in return.
Read more: In 10 Years, Bitcoin Will Become a Global Reserve Asset — Strategy CEO
Current Situation
Strategy currently sees no need for sales. The company remains fully stable. To cover STRC obligations, which yield 11.5%, bitcoin needs to grow only about 2.3% annually.
Strategy holds 818,334 BTC. In the Q1, the company acquired 89,599 BTC, and in early Q2, another 56,235 BTC.
“Digital Credit” Strategy
Strategy continues to actively develop its STRC preferred share program, which has already raised $8.5B. Le called these instruments “digital debt” and noted that the global market for such products exceeds $300T.
Learn more: Who Is Michael Saylor and Why He’s Betting Billions on Bitcoin
