Strategy may sell up to $1.25B in Bitcoin to calm investor jitters
Strategy (formerly MicroStrategy) is considering selling up to $1.25 billion in Bitcoin to address growing investor concerns about its leveraged cryptocurrency holdings. The company plans to use proceeds to reduce debt and shore up its balance sheet, aiming to ease market jitters over its aggressive Bitcoin acquisition strategy.
Background
Strategy (formerly MicroStrategy) is the largest corporate holder of Bitcoin, with over 500,000 BTC on its balance sheet. The company, led by co-founder Michael Saylor, has funded its purchases largely through convertible debt and equity offerings — meaning investors are essentially buying a proxy for leveraged Bitcoin exposure. The $1.25B potential sale refers to shares under a new at-the-market (ATM) offering program, not a sale of the Bitcoin itself. While Strategy has used ATM offerings before to raise cash for more Bitcoin buys, this filing explicitly allows proceeds to be used for "general corporate purposes," which could include repaying debt or buying back stock. That shift has unnerved some investors who worry that Saylor may slow or pause the aggressive Bitcoin accumulation strategy that has defined the company's stock price. The broader context: Bitcoin has been volatile in 2026, and Strategy's stock often moves like a high-beta version of the cryptocurrency, amplifying both gains and losses for shareholders.