Strategy Plans to Sell Up to $1.25B Bitcoin as Coin Bureau CEO Warns of Capital Structure Risk

According to Coin Bureau CEO Nic Puckrin in a recent interview, Strategy's capital structure has become a major market overhang due to massive dividend obligations tied to its STRC preferred stock. Puckrin cautioned that the company is attempting to raise cash through at-the-market sales of MSTR shares, which can dilute existing shareholders.

Strategy announced on June 29 that it may sell up to $1.25 billion in Bitcoin through its Bitcoin Monetization Program, with proceeds to strengthen cash reserves, pay preferred-stock dividends and interest expenses, and support stock repurchases. The company holds 847,363 BTC, representing about 4% of Bitcoin's eventual 21 million-coin supply. Puckrin warned that even limited Bitcoin sales could hurt market sentiment, and if weakness persists for about seven months, concerns around potential sales could intensify.