Politics / 2 MIN READ
CEO Phong Le says company will sell BTC when advantageous, reversing long-standing policy. Polymarket probability surged 10 points after earnings call.
Market data
Current live odds
MicroStrategy sells any Bitcoin by June 30, 2026?
Strategy (formerly MicroStrategy) signaled on Tuesday it may sell some of its bitcoin holdings for the first time, marking a reversal of its longstanding "never sell" approach. The shift sent shares lower and drove a 10-percentage-point surge on Polymarket, where traders now price a 66.3% chance that the company sells any bitcoin by June 30.
During the company's first-quarter earnings call on May 5, President and CEO Phong Le said the company would consider selling bitcoin "when it's advantageous to the company" or to boost bitcoin per share. "We're not going to sit back and just say, 'We'll never sell the bitcoin,'" Le said. Executive Chairman Michael Saylor added the company may sell BTC to pay dividends on its preferred stock, saying, "You buy bitcoin with credit, you let it appreciate, and then you sell bitcoin to pay the dividend."
The announcement comes as Strategy reported a net loss of $12.54 billion for the first quarter, driven by $14.46 billion in unrealized losses on its bitcoin holdings as the price of bitcoin slipped to the $60,000-$65,000 range from around $90,000. As of March 31, the company held 818,334 BTC, acquired for $61.81 billion at an average cost of roughly $75,500 per coin, representing nearly 4% of all bitcoin in circulation.
Strategy also disclosed a $2.25 billion U.S. dollar reserve established in December to meet dividend and debt obligations. The company raised capital for bitcoin purchases through equity and debt issuances, and it reported a 9% bitcoin yield year-to-date, a metric measuring growth in bitcoin per share. Le stressed that any sales would be "tactical" and focused on being "net aggregators of bitcoin," aiming to increase bitcoin per share over time.
The market’s move to 66.3% probability reflects a sharp repricing after the earnings call. Polymarket's contract, which closes July 1, now sees a two-in-three chance of a sale within less than two months. Investors will watch for any corporate filings, bitcoin-accretion announcements, or debt-management actions that could trigger a sale.
Politics / 1 MIN READ
Earlier this weekPrediction markets price Texas Attorney General as heavy favorite over incumbent Cornyn one week before May 26 Republican primary.