Jiang Zhuoer, CEO of BTC.TOP, one of China's largest bitcoin mining pools, stated that Strategy (formerly MicroStrategy) could withstand a bitcoin price drop to $30,000 without being forced to sell its holdings. He dismissed speculation that the company sold about 45,000 bitcoin from a Fidelity custody wallet, noting the wallet also holds Fidelity's ETFs. Jiang argued that Strategy's debt is only about 5% of its assets, rising to just 10% even at $30,000 bitcoin, so leverage remains low. He also defended Strategy's use of STRC preferred shares, which pay 11.5% annual dividends, claiming that limited bitcoin sales to fund dividends are compatible with net buying. However, some observers warned that a prolonged bear market could force larger sales regardless of management intent.

Key facts

• BTC.TOP CEO says Strategy can survive $30K Bitcoin without selling.
• Speculation of 45K BTC sale from Fidelity wallet is likely overblown.
• Strategy's debt is only 5% of assets, rising to 10% at $30K Bitcoin.
• STRC preferred dividends funded by selling oldest, cheapest Bitcoin.
• Prolonged bear market could still force larger sales, warn observers.

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