Phong Le, CEO of Bitcoin treasury company Strategy, outlined specific conditions for selling some of the firm's Bitcoin holdings during a Friday interview.
The company will sell BTC to pay dividends on its Series A Perpetual Stretch Preferred Stock, which carries an 11.5% yield, and to defer or offset taxes. Le stated, “I believe in math over ideology,” adding that sales would only occur if they are accretive to shareholders-meaning they improve the BTC per share metric.
The comments follow co-founder Michael Saylor's earlier remarks that Strategy might periodically sell Bitcoin to fund dividends. Le downplayed market impact, noting that BTC's daily trading volume of about $60 billion can absorb the over $1 billion in annual dividend obligations.
Strategy currently holds 818,334 BTC, valued at over $66 billion, making it the largest publicly traded BTC treasury company.