CEO Confirms MicroStrategy Could Sell Bitcoin

[bonk]

A major shift in tone: CEO Phong Le has admitted that MicroStrategy may sell Bitcoin under extreme conditions.
This breaks from the company’s once-absolute “never sell” narrative.

Le outlined two crisis triggers:
1️⃣ The stock trades below 1x mNAV
2️⃣ MicroStrategy fails to raise capital through equity or debt

With mNAV already hovering around 0.95, and preferred share dividend obligations reaching $750–$800M per year, the pressure is real.

MicroStrategy’s 2025 perpetual preferred issuances created a new layer of liquidity risk.
Analysts now compare the company to a leveraged Bitcoin ETF — spectacular in bull runs, vulnerable in liquidity crunches.

[Nahid Hossen]

A potential BTC sale from MicroStrategy would shift market sentiment fast.

[Abdul Khan]

This confirmation adds a new layer of uncertainty for BTC price stability.

[JanEmil]

Their problem is if they BTC go even lower

[The_Walking_Dead]

If MSTR starts selling, the domino effect will be brutal.

[Capybara_Capybara]

Leverage works both ways — they’re feeling the downside now

[Revenant]

Market won’t like a ‘maybe sell’ narrative from a ‘never sell’ company.