HuoXing Finance reports that on June 8, Jiang Zhuo'er, founder of B.TOP mining pool, shared his views on Strategy's sale of Bitcoin. He believes Strategy is not selling large amounts of Bitcoin, but rather small quantities to cover interest payments. Jiang argues that Strategy is issuing new STRC tokens to raise funds for purchasing more BTC, while selling only a minimal amount of its early, low-cost BTC to generate accounting gains used to pay STRC interest—this is an expression of its "rolling strategy." However, if Strategy sold no Bitcoin at all, investors might suspect it is simply using new funds to pay old interest. Small sales generate real gains, maintain the appearance of "never selling Bitcoin," and facilitate continued fundraising.
Jiang Zhuoer explains the strategy's BTC sales as part of a 'rolling strategy'.
MarsBitShare
Summary
Jiang Zhuoer, founder of Lebi Mining Pool (B.TOP), explained Strategy’s Bitcoin sales as part of a broader trading strategy. He stated that Strategy is not liquidating large BTC holdings but rather selling small amounts to cover interest payments. To finance new BTC purchases, Strategy is issuing STRC tokens. Selling early, low-cost BTC generates profits to fund STRC interest payments. Jiang referred to this as a “rolling strategy.” Small, consistent sales help maintain the perception of “never selling BTC” while supporting future fundraising. This approach avoids the appearance of using new capital to pay old obligations, which could raise investor concerns. The hedging strategy ensures steady returns while preserving long-term BTC holdings.
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