Arca's Chief Investment Officer: Strategy has absolutely no need to sell BTC unless the price drops to a level where selling would be inconsequential.

Arca's Chief Investment Officer, Jeff Dorman, posted this morning: "For years I've been debunking misconceptions about Strategy (MSTR), yet every time BTC drops, the same nonsense resurfaces—some say MSTR will be forced to sell BTC, or that its holdings will be liquidated, as if it were some kind of leveraged perpetual contract… Anyone who spends less than five minutes consulting any debt or equity expert will understand that unless the drop in BTC is so severe that MSTR's selling becomes insignificant, MSTR has absolutely no need to sell BTC." Dorman added that the main reasons MSTR doesn't need to sell BTC are: 1. Given Saylor's 42% stake, it's virtually impossible for activist investors to control the board; 2. There are no mandatory sale clauses in the debt terms; 3. Interest expenses are manageable (don't forget its core technology business still generates positive cash flow); 4. Few companies default on debt maturities (investors are like sheep, almost always choosing to roll over debt—using delay to solve problems).