MSTR shares draw scrutiny after QCP flags potential additional Bitcoin sales to fund dividends

A QCP note said Strategy (formerly MicroStrategy) could sell more Bitcoin as it faces tight liquidity and may need funds to support dividend payments, with an estimated runway of about seven and a half months. The company has repurchased nearly $1.5 billion of 2029 convertible notes and raised around $200 million through MSTR stock sales. It has used $100 million of that to buy Bitcoin, while the report has renewed questions about the firm’s financial sustainability and the earlier BTC sale tied to a pullback in MSTR shares at the start of the month.