BTC traded at $63,228.15 on Monday, yet Changpeng Zhao, CEO of the Chinese mining pool BTC.TOP, asserted that MicroStrategy could endure a price decline to $30,000 without liquidating assets. Zhao utilized X to dismiss a week of market speculation suggesting the company sold holdings to meet financial obligations. This narrative emerged after an analyst estimated that approximately 45,000 BTC, valued near $3 billion, moved from a Fidelity custody wallet between May 28 and June 1. The analysis implied a gradual sale at an average price of nearly $66,000 per coin.

However, since the wallet also manages Fidelity's BTC and ether exchange-traded funds, the transfer likely represented routine operational activity rather than a confirmed sale by Strategy. Jiang Zhuoer characterized these rumors as exaggerated in a Sunday post.

Addressing the negative sentiment surrounding Fidelity, Zhao maintained that MicroStrategy would not engage in significant net sales of BTC. He detailed group discussions regarding the company's financial structure, specifically its debt levels and interest payment schedules. Data compiled by Woofun AI shows that Strategy's balance sheet provides little justification for deviating from its core business model commitment to retain BTC. The argument posits that the company's capital structure remains robust enough to weather significant volatility without resorting to asset liquidation.

Zhao further defended the mechanics of STRC, the preferred shares Strategy issues to raise liquidity. These instruments carry an annual dividend of 11.5%, paid in monthly installments. The strategy involves selling older, cheaper BTC holdings to generate funds for these dividend payments, while proceeds from new STRC sales are deployed to purchase additional BTC. As long as the volume of new acquisitions exceeds the volume of sales, Strategy maintains its status as a net buyer. Woofun AI notes that this logic directly addresses the primary concern of STRC holders: the fear that Strategy might refuse to sell BTC and consequently fail to meet dividend obligations. The willingness to sell specific holdings actually mitigates this risk.

Conversely, other participants in the discussion expressed skepticism regarding this optimistic outlook. They argued that a prolonged bear market would inevitably increase Strategy's interest expenses, potentially forcing asset sales regardless of strategic intent. CoinDesk data indicates BTC was trading around $63,400 on Monday, reflecting a decline of nearly 10% over the past week. This downturn followed Strategy's announcement of its first BTC sale since 2022, reigniting concerns about capital preservation. Woofun AI analysis suggests that while the current balance sheet appears stable, sustained downward pressure on BTC prices could alter the cost-benefit analysis of holding versus liquidating assets to service debt.