Strategy CEO Reveals The Only Condition That Could ‘Force’ Selling More Bitcoin

Strategy CEO Phong Le broke silence on conducting further Bitcoin sales and whether the company will ever be ”forced” to sell BTC. However, he resisted criticism for its recent 32 Bitcoin sale.

Strategy CEO Opens Up On The “Forced” Selling of Bitcoin Narrative

In an interview with crypto analyst Scott Melker, Le spoke of the rising speculation about Strategy potentially needing to sell off Bitcoin. He then revealed the scenario where the firm could dump its massive stockpile of Bitcoin to cover dividend or debt payments.

“The most realistic scenario of us being a forced seller of Bitcoin is we have about $3.5 billion of preferreds that come due 2028,” Le said.

The Strategy CEO added, “If at that point in time Bitcoin has lost a significant amount of its value, our share price is depressed, we would sell the Bitcoin actually to satisfy the converts.”

My conversation with @scottmelker on @YahooFinance on @Strategy, the largest holder of Bitcoin in the world, why $GOOG and $MSTR use preferred equity, paying $STRC dividends, buying and selling $BTC, and $MSTR performance. pic.twitter.com/pvt0UUyKHM

— Phong Le (@phongle) June 13, 2026

However, described it as a ““edge case.” He added the company could also refinance or “equitize” the obligations instead of selling Bitcoin.

Currently, Strategy owns 845,256 BTC, which makes it “by far and large the largest corporate and now the largest holder, identified holder of Bitcoin in the world,” Le affirmed.

The comments follow the recent criticism of the company over the sale of 32 BTC valued at approximately $2.5 million at the time. The deal, some market participants said, was a sign of liquidity problems related to Strategy’s increasing dividend obligations.

Phong Le Defends Recent 32 BTC Sale

Le dismissed the idea that the sale was to pay off dividend payments. He claimed it was meant to be small and a test of internal systems with the intent of creating tax benefits for the future. Also, he spotlighted how the market went bearish on the 32 BTC sale but didn’t react with the same intensity when Strategy bought another 1,550 BTC last week.

“We did not sell it because we needed to sell it to meet our cash dividend obligations,” he said. Le further added, “We did it to one inoculate the market, two test our processes, and three be able to capture future tax loss.”

The company’s annual dividend payments are about $1.7 billion, but the size of its capital structure and its trading liquidity allow it to make such payments, Le said.

He added, “I don’t lose sleep at night wondering, ‘How are we going to pay our dividends?’”

The Strategy chief also stood by his side in the company’s overall financing framework where it has various preferred equity products linked to Bitcoin exposure.

According to Le, the company still aims to grow its Bitcoin per share values in the long term, despite some fluctuations in the short term.

“We think strategically year-to-year and really long-term,” he said. “Every single year are you increasing Bitcoin per share? The answer is yes,” Le concluded. Meanwhile, Michael Saylor has also reaffirmed buying BTC for the company.