By Isaac • July 2, 2026 5:53 pm •
JPMorgan told clients this week that Strategy’s new bitcoin policy adds what it calls “two-way risk” to crypto markets.
The bank’s point is simple. Strategy has always been the buyer everyone watched.
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Now it has formally reserved the right to sell.
That shift matters because of size. Strategy holds roughly 4% of all bitcoin in existence, and it bought about $13.7 billion of it this year alone.
By JPMorgan’s math, that single company accounted for around 70% of estimated digital asset flow in the period.
UST IN: @JPMorgan warns @Strategy‘s new $BTC sales policy introduces “two-way risk” to crypto markets, recommending the firm build 24-36 months of dividend coverage via equity issuance rather than selling
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