Bitcoin News Today: Strategy Holds Bitcoin Despite 51% Above Price, Bets on Long-Term Value

Strategy, the largest corporate holder of Bitcoin with 649,870 BTC, has signaled its commitment to expanding its cryptocurrency holdings despite market volatility and a key statistic revealing that over 51% of its Bitcoin stash was acquired at prices above the current $86,900 level. CEO Phong Le has clarified that the company would only consider selling Bitcoin under extreme financial conditions—specifically, if its stock drops below net asset value (mNAV) and access to fresh capital dries up according to CEO Phong Le. This framework underscores Strategy's long-term thesis on Bitcoin as a non-sovereign, scarce asset with global appeal, even as the firm navigates challenges including ETF outflows and liquidity stress in the broader market as reported by Cointelegraph.

The 51% figure, highlighted by CryptoQuant, reflects a concentration of purchases made during high-price periods in 2021, 2024, and early 2025 according to CryptoQuant analysis. While Strategy's average cost basis remains at $74,430, the firm's stock (MSTR) trades at a discount to the $56.4 billion value of its Bitcoin holdings, creating a structural advantage when raising capital at a premium to mNAV according to TradingView. However, the market's bearish dynamics, including spot and ETF outflows exceeding $270 million in recent sessions, have kept Bitcoin below critical moving averages, complicating accumulation efforts as noted in CoinEdition.

Le emphasized that selling Bitcoin would be a "mathematical" decision tied to financial discipline rather than a strategic shift as stated by CEO Phong Le. He outlined a contingency plan to fund $750 million–$800 million in annual dividend obligations through equity issuance at a premium to mNAV, avoiding dilutive share offerings or Bitcoin sales as reported by CoinCentral. The CEO also defended the company's balance sheet resilience, noting that Strategy's debt remains well-covered even if Bitcoin's price fell to $25,000 as confirmed by CoinCentral. A newly launched "BTC Credit" dashboard aims to reinforce investor confidence by transparently tracking dividend coverage and liquidity metrics as reported by CoinCentral.

Meanwhile, broader market data from CryptoQuant indicates a transitional phase for Bitcoin, with liquidity stress indices at -0.28 and scarcity readings easing from earlier peaks according to EthNews. While whales have begun accumulating near $85,000–$90,000, retail participation remains muted, and Binance's volatility highlights the exchange's role as a liquidity barometer as reported by EthNews. The firm's ability to maintain its mNAV above 1 and secure capital will be critical, as a breach could trigger a reassessment of its Bitcoin strategy according to Cointelegraph.

Strategy's position reflects a delicate balance between holding Bitcoin through market cycles and preserving shareholder value. With the firm's average cost still in the green and its CEO's explicit conditions for selling, the company appears poised to defend its Bitcoin treasury strategy unless forced by extreme market or capital constraints as reported by TradingView.