Strategy CEO Phong Le said the company would consider selling its Bitcoin holdings only in the event of a severe, prolonged liquidity crisis. In an appearance on CNBC Power Lunch, Le said a sale would be contemplated if the firm lost access to US dollars and could not trade Bitcoin derivatives, a scenario he joked would not arrive until 2065, and one he may not be around to see. He added that it would take a sustained multi-decade down cycle, perhaps as long as 40 years, to force such a decision.
Le pushed back on recent questions about the company’s liquidity, describing the concerns as FUD. He pointed to Strategy’s rapid capital raise of about 1.4 billion dollars completed in eight and a half days amid market chatter that the firm might struggle to meet dividend obligations. That fundraising, he said, provides roughly 21 months of coverage and demonstrates the company’s continued access to capital markets even during a Bitcoin downturn.
Le also rejected suggestions that crypto lacks long-term viability, noting that Bitcoin has delivered strong returns recently, averaging about 45 percent annual gains over the past five years and remaining one of the best-performing asset classes.
Strategy adopted a Bitcoin treasury strategy in 2020 to offer public-equity exposure to Bitcoin before spot BTC ETFs began trading in 2024. The company currently holds about 650,000 BTC, which at current prices is roughly 58 billion dollars.