"Never Sell Bitcoin" Strategy Changes at Strategy...Sales Possible If Needed [Bitcoin Now]

'Never sell.'

Bitcoin investment company Strategy (formerly MicroStrategy) has stepped back from its long-held 'hold Bitcoin at all costs' strategy. The company has officially stated that it will consider selling Bitcoin to manage its financial structure if necessary.

Reuters Yonhap News

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According to U.S. economic media outlet CNBC, on May 5 (local time), Strategy CEO Phong Le said during the company's earnings conference call, "If it helps enhance the per-share value of Bitcoin, we may consider selling Bitcoin for cash management or debt management purposes."

This policy is a departure from the 'hold at all costs' strategy that founder and chairman Michael Saylor has emphasized for years. Chairman Saylor has established himself as a 'Bitcoin evangelist' and a major player in the virtual asset industry.

This statement came as the company reported a net loss of $12.5 billion (approximately 18 trillion won) in the first quarter. This was due to a sharp drop in the price of Bitcoin. According to CoinMarketCap, a virtual asset market site, as of 2:30 p.m. (Korea Standard Time) on May 6, the price of Bitcoin was $81,207, down significantly from $88,429 at the end of December last year.

In addition, Strategy secured a dollar reserve of $2.25 billion in December last year to prepare for preferred stock dividends and interest payments. The company has been acquiring Bitcoin through new stock issuances and debt financing.

CEO Le said, "We will not simply say, 'We will never sell Bitcoin,'" adding, "The key is to increase the per-share value of Bitcoin rather than focus on the total amount held."

Strategy uses the metric of 'Bitcoin per share.' This concept shows how much Bitcoin value is contained in each share of the company's stock. The company has stated that it will focus on increasing Bitcoin exposure per shareholder rather than merely expanding the total amount held.

Chairman Saylor compared the company to a real estate development firm. He said, "No one says a business model has failed just because land is bought cheaply, sold at a higher price, and the profits are used to purchase more land or pay off debt," adding, "We are essentially a Bitcoin development company."

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As of the end of the first quarter this year, Strategy holds a total of 818,334 BTC. The total purchase amount is $61.8 billion, with an average purchase price of approximately $75,500. This accounts for about 4% of the total Bitcoin supply. The company has acquired about 63,000 BTC additionally since the start of this year alone.

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