Strategy's Executive Chairman Michael Saylor said in a podcast interview that it is "not impossible" the company will sell some of its Bitcoin before the end of this year. This statement reflects a notably more cautious stance compared to his previous long-standing position of "never selling."
Shift in capital allocation criteria
Saylor said that Strategy will not rely solely on equity, credit instruments, or Bitcoin as a single source of funding. He emphasized that the company employs a hybrid capital management approach, dynamically adjusting based on liabilities and funding needs.
Position size remains large
The strategy currently holds 818,334 BTC, with an acquisition cost of approximately $61.6 billion, resulting in an average purchase price of about $75,527. Saylor also mentioned that the company does not intend to exit preferred stock products such as STRF, STRD, and STRK.
Selling coins is described as a small-scale action.
Saylor believes that even if the company sells a portion of its Bitcoin, the volume would be far smaller than the market's daily liquidity. He also stated that even if dividends were fully funded by Bitcoin sales, the company could still continue to accumulate more BTC.