🪐 MicroStrategy signals conditional BTC sales MicroStrategy’s CEO Phong Le told investors the firm will only liquidate Bitcoin when a set of accounting‑driven triggers are met, a pivot from Michael Saylor’s “never sell” mantra that knocked the stock 4%. 🕸️ On the bullish side, the new framework ties sales to a mNAV threshold of 1.22, meaning any dump would only occur when the balance sheet value lags the market, which could actually protect shareholders by preserving a higher BTC‑per‑share ratio. ETH’s price action is likely to be decoupled. Bearish concerns linger because the company posted a $12.5 bn net loss and now treats Bitcoin as a liquidity lever, opening the door to sizable off‑loadings if earnings pressure spikes, which could add a non‑trivial headwind to BTC’s price if the market perceives a large‑scale sell‑off as imminent. 👁️‍🗨️ The decisive factor will be whether the mNAV trigger ever activates – if it does, the market will see a pre‑approved exit path that could dampen BTC’s upside. ⚠️ Personal analysis only. Not financial advice. DYOR. #MicroStrategy #BTC #OnChain