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The strategy does not indicate that Bitcoin will be sold, it is merely a routine risk disclosure.
[Strategy does not indicate that it will sell Bitcoin, it is only a routine risk disclosure] A piece of news about Strategy (formerly MicroStrategy) possibly being forced to sell Bitcoin has sparked widespread attention on X. The news states that according to the 8-K form submitted by Strategy to the SEC on April 7, if the price of Bitcoin continues to fall, the company may be forced to sell its Bitcoin Holdings to pay off debts, breaking Michael Saylor’s commitment of “never selling Bitcoin.” Upon verification, this interpretation is misleading. The statement in the 8-K form by Strategy mentioning “may be forced to sell Bitcoin” is, in fact, a standardized risk disclosure clause, rather than the company’s actual intention or an imminent action. Such risk disclosures are extremely common in the financial reports of publicly listed companies, especially for those holding a large amount of specific assets. In fact, this statement is not the first occurrence, as similar statements have appeared in the financial reports of Strategy over multiple past quarters. In the Q1 2024 filing, the same risk warning statement was already present.