$Strategy(MSTR.US)MicroStrategy Major Negative: Completely breaks the 'buy only, no sell' rule, continuous selling pressure in the future

MicroStrategy has recently officially granted permission to sell Bitcoin, completely ending the core rule of 'only hoarding, never selling' that lasted for years. This is a real fundamental negative.

In the past, the market was bullish on Bitcoin and MicroStrategy, primarily because it was a stable super-bull, only adding to positions, never selling, with absolutely no pressure to dump, giving the market strong confidence.

But now the situation has completely changed. The company has been approved for regular Bitcoin sales and has already sold Bitcoin to pay interest and repay debt.

MicroStrategy's core business profitability is extremely poor, with huge annual dividend and interest expenses, creating immense cash flow pressure. It used to rely on issuing stock and borrowing money to buy Bitcoin, but now with the market downturn and its stock price heavily discounted, this path is no longer viable.

In the future, whenever cash flow is tight, the company will be forced to sell Bitcoin to stay afloat.

The former biggest buyer has now become a potential seller. If the Bitcoin price weakens in the future, MicroStrategy's continuous selling will increase market selling pressure and amplify the bearish sentiment.

The faith in long-term Bitcoin hoarding has collapsed. The bullish logic no longer exists, creating continuous pressure on both MSTR's stock price and Bitcoin.