Cash

Bitcoin

would

<ul>
 <li>Strategy would sell Bitcoin only if stock trades below net asset value and other funding options fail.</li>
 <li>CEO Phong Le said decisions focus on increasing Bitcoin per Share for common shareholders over time.</li>
 <li>Michael Saylor clarified Strategy remains a net Bitcoin buyer despite discussion of possible limited BTC sales.</li>
</ul>
<p>Strategy CEO Phong Le said the company would only sell Bitcoin under limited financial conditions despite recent market concerns. Speaking on CNBC, Le <a href="https://www.cnbc.com/video/2026/05/08/strategy-ceo-on-selling-bitcoin-when-its-better-than-issuing-equity-to-pay-dividends-well-do-it.html" rel="noopener noreferrer nofollow">explained</a> that any BTC sale would need to improve the firm’s “Bitcoin per Share” metric while supporting obligations tied to dividends, taxes, or liquidity needs. The clarification followed comments from Executive Chairman Michael Saylor that triggered speculation about potential Bitcoin sales.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-sales-limited-to-specific-scenarios-strong"><strong>Bitcoin Sales Limited to Specific Scenarios</strong></h2>
<p>According to Phong Le, Strategy would first compare <a href="https://cryptofrontnews.com/bhutan-transfers-25m-btc-as-reserves-continue-drop/" rel="noopener noreferrer nofollow">Bitcoin sales</a> against other funding methods before acting. The company would prioritize outcomes benefiting common shareholders through higher Bitcoin exposure per share.</p>
<p>Le said two conditions must align before any meaningful Bitcoin sale occurs. First, Strategy’s stock would need to trade below its modified net asset value.</p>
<p>Second, the company would need to exhaust alternatives including debt issuance and equity raises. Only then would Bitcoin sales become an option.</p>
<p>Le stated the company uses “Bitcoin per Share,” or BPS, as its core capital allocation metric. Management evaluates whether each decision increases Bitcoin exposure attached to outstanding shares.</p>
<p>Additionally, Strategy could use limited <a href="https://cryptofrontnews.com/coinbase-adds-88m-in-bitcoin-in-q1-holdings-reach-16492-btc/" rel="noopener noreferrer nofollow">BTC</a> sales to support the 11.5% dividend tied to its STRC preferred stock. The company may also use sales for tax optimization purposes.</p>
<h2 class="wp-block-heading" id="strong-saylor-clarifies-never-sell-position-strong"><strong>Saylor Clarifies “Never Sell” Position</strong></h2>
<p>Meanwhile, <a href="https://cryptofrontnews.com/michael-saylors-strategy-posts-12-5b-loss-as-bitcoin-hit-q1-earnings/" rel="noopener noreferrer nofollow">Michael Saylor</a> addressed market reactions following his earlier comments about selling Bitcoin for dividends.</p>
<div id="media_image-7" class="widget widget_media_image cfn-widget cfn-banner cfn-banner-article cfn-banner_728"><a href="https://t.me/EliteFXLabs" rel="noopener noreferrer nofollow"><img width="1280" height="698" src="https://cryptofrontnews.com/wp-content/uploads/2026/04/EliteFXLabsBanner-0.webp" alt="EliteFXLabs Banner"></a>
</div>
<p>Saylor acknowledged his “never sell” Bitcoin stance fueled concern after discussing possible sales during Strategy’s earnings call. However, he clarified the company still intends to remain a net Bitcoin buyer.</p>
<p>He explained that Strategy could theoretically sell one Bitcoin while purchasing significantly more afterward. According to Saylor, the broader accumulation strategy remains unchanged.</p>
<p>Strategy currently holds 818,334 BTC, making it the largest public corporate Bitcoin holder.</p>
<h2 class="wp-block-heading" id="strong-cash-buffer-reduces-immediate-pressure-strong"><strong>Cash Buffer Reduces Immediate Pressure</strong></h2>
<p>Notably, Le said <a href="https://cryptofrontnews.com/strategys-michael-saylor-breaks-down-strc-and-digital-credit-vision/" rel="noopener noreferrer nofollow">Strategy</a> built a multi-year U.S. dollar cash reserve covering roughly two to three years of preferred dividends.</p>
<p>The company also recently completed a $1.44 billion equity raise within eight and a half days. Le described the capital raise as a deliberate move designed to avoid selling Bitcoin.</p>
<p>According to Le, Strategy’s stock trading above net asset value allows the company to raise capital without reducing Bitcoin exposure per share.</p>
<p>The post <a href="https://cryptofrontnews.com/strategy-ceo-phong-le-clarifies-strategy-bitcoin-sale-conditions/" rel="noopener noreferrer nofollow">Strategy CEO Phong Le Clarifies Strategy Bitcoin Sale Conditions</a> appears on <a href="https://cryptofrontnews.com" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Strategy CEO Phong Le Clarifies Strategy Bitcoin Sale Conditions

Table of Contents

CFN

Other articles published on May 10, 2026

Join our free newsletter for daily crypto updates!