Analyst warns of significant sell pressure if MicroStrategy sells BTC

On-chain analyst Maartunn has warned of a structural risk should MicroStrategy (MSTR) begin selling its Bitcoin (BTC) holdings, despite noting the company could cover dividend payments for approximately 32 years with its current assets. Writing on X, the analyst explained that if MicroStrategy were forced to sell BTC to fund its dividends, it could trigger significant selling pressure in the market. This, in turn, would lead to a drop in the price of BTC, reducing the value of MicroStrategy's own holdings and further diminishing its capacity to pay dividends. Maartunn cautioned that this scenario could create a "vicious cycle" of downward pressure and declining asset value.