Could Strategy Be Forced To Sell Its Bitcoin? Bitwise CIO Says No

Strategy CEO Phong Le announced that the firm successfully raised $1.44 billion in just eight days to secure a 21-month dividend runway, aiming to alleviate investor concerns during a downturn in Bitcoin prices. This funding is intended to counteract fear, uncertainty, and doubt (FUD) surrounding the cryptocurrency market.

Crypto analyst Miles Deutscher has declared a 91.5% probability that Bitcoin has reached its bottom, citing market reactions to negative news and historical patterns as key factors in his assessment. He emphasizes that despite recent adverse events, Bitcoin's price has shown resilience, suggesting a potential turning point in the market.

Bitcoin's recent price volatility has brought renewed attention to MicroStrategy, the largest corporate holder of Bitcoin, as traders look for stability in a fluctuating market. Analysts are closely monitoring the company's potential influence on Bitcoin's price, particularly if it decides to sell some of its holdings.

Strategy's stock has experienced a significant decline, prompting Cantor to reduce its price target due to a lower adjusted net asset value multiple. Analyst Brett Knoblauch highlighted that this situation prevents Strategy from issuing equity at a premium, jeopardizing its long-term plans to accumulate more bitcoin.

Strategy, the corporate Bitcoin buyer led by Michael Saylor, has significantly reduced its Bitcoin purchases in 2025, marking a departure from its previous steady demand, as reported by CryptoQuant. This decline in monthly buys reflects a broader shift in institutional support for Bitcoin, raising concerns among market watchers about the future of corporate investment in the cryptocurrency.

Bitwise Chief Investment Officer Matt Hougan stated that the company will not be compelled to sell Bitcoin even if stock prices decline, citing their $1.4 billion cash reserve and no debt obligations until 2027. With Bitcoin's current price above their cost basis, a sale appears unlikely.

MicroStrategy is currently facing significant challenges as its market valuation has dropped below the value of its Bitcoin holdings, prompting scrutiny from Wall Street and MSCI, which is considering the exclusion of MSTR from its indices. Market expert Shanaka highlighted this historical moment, indicating the precarious position of the company amidst fluctuating Bitcoin prices.

AltPlus, a publicly listed Japanese company, has announced its plan to incorporate Bitcoin and XRP into its long-term treasury strategy, marking a significant shift in its financial framework. This decision was disclosed in a recent shareholder filing, which outlines a multi-layered approach to integrating these digital assets into its operations.