LATEST: @MicroStrategy CEO @phongle doubles down on the company's BTC objectives following the announcement from @saylor that the the company is buying more bitcoin:native

Strategy CEO @phongle has publicly reaffirmed the company's Bitcoin objectives, doubling down on its accumulation strategy following a post by executive chairman @saylor signalling a new $BTC purchase.

A "Never Sell" Doctrine Under Scrutiny

The renewed commitment comes at a delicate moment for the firm. Strategy sold 32 bitcoin between May 26 and May 31 for approximately $2.5 million, with the proceeds used to pay the dividend on its STRC perpetual preferred stock. That marked the first time Strategy had sold any of its Bitcoin holdings since 2022. While the disposal was small in absolute terms, the amount represented about 0.004% of its 843,706 $BTC holdings, yet carried considerable symbolic weight.

@phongle distilled the company's operating philosophy into seven words on June 5: "Buying Bitcoin is easier than selling." The remark was a pointed signal that, despite the firm's first BTC disposal in years, the direction of travel has not changed. Le has been clear that any sales will only occur under conditions that enhance Bitcoin per share and benefit common shareholders.

The pivot reverses @saylor's long-standing "never sell" stance, a shift that first surfaced during Strategy's Q1 2026 earnings call. In a CNBC interview, Le framed the approach as pragmatic rather than ideological, stating: "Ultimately, I believe in math over ideology."

Ambitious Targets, Growing Pressure

The company raised $25.3 billion in 2025 to fund its accumulation strategy, and capital raises in 2026 are expected to exceed $80 billion, with the explicit goal of pushing total holdings toward 1 million $BTC. One million Bitcoin would represent roughly 4.8% of all Bitcoin that will ever exist.

Not everyone is convinced the model is sustainable. Arca chief investment officer Jeff Dorman has warned that roughly $15 billion in outstanding preferred stock and approximately $1.5 billion in annual dividend obligations now put real strain on the accumulation model. @saylor has argued that selling a small amount of Bitcoin will ultimately help the firm buy more than it sells to cover STRC dividends, and that its current position only requires $BTC to appreciate at 2.3% annually to cover those obligations indefinitely.

The company rebranded from MicroStrategy to Strategy Inc. in August 2025, an acknowledgment that Bitcoin treasury operations are now the core business. With @phongle reinforcing that message alongside a fresh buy signal from @saylor, Strategy is leaning into its identity even as scrutiny over its capital structure intensifies.

Sources:
Strategy CEO Phong Le says buying Bitcoin is easier than selling (Crypto Briefing)
Strategy sold 32 BTC for $2.5 million in late May (CoinDesk)
Michael Saylor's Strategy sells 32 bitcoin for $2.5 million (The Block)