Strategy Inc. has dropped its longstanding 'never sell' Bitcoin pledge, telling investors it will offload BTC when doing so is 'advantageous to the company.' The reversal comes as the company reported a $12.54 billion net loss for Q1 2026, driven by a $14.46 billion unrealized loss on its Bitcoin holdings.
President and CEO Phong Le said Tuesday the company 'will sell Bitcoin when it's advantageous to the company,' citing the option to buy U.S. dollars or retire debt if it's accretive to Bitcoin per share.
Chairman Michael Saylor suggested the company would sell some Bitcoin to fund a dividend, calling it a move to 'inoculate the market' and signal the strategy is sustainable.
Analysts say the real impact is on conviction. While a partial sale could trigger short-term panic, the market would likely absorb the supply given ongoing ETF and institutional demand. Corporate adoption remains a fragile consensus, and Saylor's shakeable certainty could test that framework.
On prediction market Myriad, the odds of Strategy selling Bitcoin in 2026 jumped from 12% to over 40% after the announcement.