Strategy is no longer viewed as a one-way Bitcoin flow.
JPMorgan says Strategy’s policy allowing selective BTC sales for preferred dividends adds “two-way risk” to crypto markets.
That matters because Strategy holds 847,363 BTC — around 4% of total supply.
The market used to price it mostly as a structural buyer.
Now it has to price the possibility of occasional supply too.
This is a market-structure shift, not a panic signal.
$BTC $MSTR
Not financial advice.
JPMorgan says Strategy’s policy allowing selective BTC sales for preferred dividends adds “two-way risk” to crypto markets.
That matters because Strategy holds 847,363 BTC — around 4% of total supply.
The market used to price it mostly as a structural buyer.
Now it has to price the possibility of occasional supply too.
This is a market-structure shift, not a panic signal.
$BTC $MSTR
Not financial advice.