China · Strategy · Bitcoin · CoinDesk
Chinese mining CEO confirms Strategy can survive a $30,000 bitcoin without selling
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Bitcoin BTC $ 63,244.64 can drop down to $30,000 but still won't impact Strategy's BTC plans.
Key facts
- The talk built after an on-chain analyst estimated that about 45,000 bitcoin, worth roughly $3 billion, left a Fidelity custody wallet between May 28 and June 1, and suggested Strategy had sold
- The company's debt equals only about 5% of its assets, he said, and would climb to 10% even if bitcoin fell to $30,000 from around $62,900 now
- Bitcoin traded near $63,400 on Monday, data, down nearly 10% in the past week after Strategy reported its first bitcoin sale since 2022
- Bitcoin BTC $ 63,244.64 can drop down to $30,000 but still won't impact Strategy's BTC plans
Summary
Jiang Zhuoer of BTC.TOP argued that even a drop in bitcoin’s price to $30,000 would leave Strategy with relatively low leverage and little need to sell its holdings. He said speculation that Strategy dumped about 45,000 bitcoin from a Fidelity custody wallet is likely overblown, noting the wallet also holds assets for Fidelity’s ETFs. Jiang defended Strategy’s use of high-yield STRC preferred shares, saying limited bitcoin sales to fund dividends are compatible with remaining a net buyer, though some observers warned a prolonged bear market could still force larger sales. That's from Jiang Zhuoer, chief executive of BTC.TOP, one of China's largest bitcoin mining pools, who shared on X that Strategy is unlikely to sell much of its bitcoin, pushing back on a week of speculation that the company offloaded coins to meet its obligations.