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Strategy May Offload $1.25B Bitcoin as Market Premium Collapses Below Parity

Stocks Capital Flow

2026-06-30 05:22:32

BTC-0.89%

Strategy announced in a filing it may sell up to $1.25 billion of Bitcoin to rebuild cash reserves, reversing its long-standing accumulation strategy. The board approved a Bitcoin Monetization Program authorizing the sale and launched two $1 billion buyback programs for common and preferred shares. The shift follows Strategy's market-to-NAV ratio (mNAV) falling below 1.0 on Friday, meaning the market now values the company below the worth of its Bitcoin holdings. With the valuation premium gone, the self-reinforcing funding model that enabled Strategy to issue stock above coin value and recycle proceeds into more Bitcoin has broken down. Strategy holds approximately $51 billion in Bitcoin, though its shares have fallen nearly 80% over the past year. The company's cash reserve currently stands at $2.55 billion.

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