MicroStrategy Abandons 'Never Sell' Bitcoin Strategy

MicroStrategy, a leading bitcoin treasury firm, has made a significant change in its approach to managing its massive bitcoin holdings. In its latest earnings report, the company revealed that it will now actively manage its balance sheet to maximize the value of its bitcoin per share.

The move marks a departure from MicroStrategy's previous 'never sell' strategy, which was championed by its chairman and CEO Michael Saylor. According to Phong Le, president and CEO of the company, MicroStrategy will now consider selling bitcoin if it is advantageous to do so.

This decision comes as the company posted a $12.5 billion net loss in the first quarter due to the slump in the bitcoin price at the beginning of the year. To mitigate this risk, MicroStrategy established a U.S. dollar reserve in December, which now holds $2.25 billion.