MicroStrategy CEO Phong Le has clarified the company's position on its Bitcoin holdings, stating that the firm would only be forced to sell its Bitcoin in the event of a "literally three-year sustained down cycle." The company currently holds a cash reserve of roughly $1.4 billion, which Le stated is sufficient to cover obligations for approximately 21 months. [Update] Market participants continue to scrutinize MicroStrategy's treasury management. Bitwise's CIO has publicly dismissed fears that the company intends to sell its holdings. Concurrently, analyst 'aixbt' highlighted that MicroStrategy is currently sitting on approximately $1.44 billion in cash rather than deploying it immediately into Bitcoin. This buying pause is reportedly linked to the company's MNAV (Net Asset Value) dynamics and premium/discount logic—a strategy previously outlined by the CEO—suggesting the accumulation pause is a calculated financial decision rather than a bearish signal.