11th June 2026
By Anjali Kochhar
Jiang Zhuoer Rejects Forced Bitcoin Sale Concerns
Jiang Zhuoer, CEO of BTCTOP and one of China’s most prominent Bitcoin mining executives, has dismissed concerns that Strategy, formerly known as MicroStrategy, could become a major forced seller of Bitcoin if the cryptocurrency market experiences a significant downturn.
In a recent post on X, Jiang argued that the company’s financial position remains strong enough to withstand a sharp decline in Bitcoin prices. His comments come amid growing investor concerns over Strategy’s Bitcoin-focused treasury strategy and whether the company may be forced to sell its holdings if market conditions worsen.
According to Jiang, investors are confusing the possibility of selective Bitcoin sales with the idea of Strategy becoming a net seller of the cryptocurrency. He explained that the company could sell a small portion of its early-acquired Bitcoin holdings, which were purchased at much lower prices, to realize gains and support interest payments tied to its STRC financing products.
Strategy’s Financial Model Remains Sound, Says Mining CEO
Jiang noted that such sales would not signal a change in Strategy’s long-term accumulation strategy. Instead, the proceeds could be used to demonstrate profitability, strengthen investor confidence, and fund dividend or interest obligations. At the same time, the company could continue purchasing larger amounts of Bitcoin using newly raised capital, allowing it to remain a net buyer overall.
The discussion also addressed concerns surrounding Strategy’s financing model. Critics have questioned whether using funds from new STRC issuances to pay obligations on earlier issuances could resemble a Ponzi-like structure. Jiang argued that realizing gains through limited Bitcoin sales would help counter such concerns by showing that the company can generate legitimate investment profits.
He further emphasized that Strategy’s debt burden remains relatively low. According to Jiang, the firm’s debt-to-asset ratio is approximately 5%, suggesting that its liabilities are manageable even during periods of market volatility. He described the recent discount in STRC trading as a temporary sentiment issue rather than a sign of financial distress.
To illustrate his point, Jiang compared Strategy’s position to a homeowner with $10 billion worth of properties and only $500 million in debt. While lenders may worry if the homeowner refuses to sell any assets, confidence improves if the borrower demonstrates a willingness to sell a small portion when necessary to meet obligations.
STRC Investors Focus on Dividends, Not Bitcoin Price
Jiang also highlighted that STRC investors prioritize reliable dividend payments rather than Bitcoin’s price performance. Demonstrating the ability to monetize Bitcoin holdings when needed, he said, could strengthen confidence among these investors.
At the time of writing, Bitcoin was trading at $63,468.
