BTC.TOP CEO Believes Strategy Can Endure a $30,000 Bitcoin Without Selling

Jiang Zhuoer, CEO of BTC.TOP, a leading Bitcoin mining pool in China, has expressed confidence that his company can withstand a decline in Bitcoin's price to $30,000 without needing to liquidate its assets. Speaking on X, he dismissed recent market volatility as speculative and highlighted Strategy's low leverage and unique share structure as key factors in its financial stability.

Despite speculation that Strategy may have sold around 45,000 Bitcoin, valued at approximately $3 billion, from a Fidelity custody wallet, Jiang suggested that this claim is likely overstated. The wallet in question also holds assets for Fidelity’s ETFs, making direct correlations to Strategy’s actions questionable.

Jiang emphasized that Strategy's debt is minimal, constituting about 5% of its total assets, and would only increase to 10% even if Bitcoin's value fell significantly. He noted that this financial resilience allows the company to maintain its strategy of being a net buyer of Bitcoin, rather than a seller.

In defending the use of STRC preferred shares, which offer an 11.5% annual dividend, Jiang explained that selling older Bitcoin to fund these dividends aligns with their purchasing strategy. He reassured investors that as long as acquisitions outpace sales, the company will not need to sell substantial amounts of Bitcoin.

However, some analysts remain cautious, warning that a prolonged downturn in the market could force Strategy to increase sales, regardless of management's intentions. Currently, Bitcoin is trading around $63,400, reflecting a nearly 10% drop over the past week following Strategy's first Bitcoin sale since 2022.