Strategy published six capital-management principles that replace a "buy and never sell" stance with a framework focused on increasing Bitcoin per share through aggressive product scaling and dynamic leverage, tighter reserve management and reduced convertible debt — and for the first time explicitly permits selling BTC when beneficial. The firm holds ~818,334 BTC (~4% of supply); the market largely ignored the change and bitcoin traded up ~2.3% intraday above $82,800.

The company moved from a strict accumulation policy to a framework that explicitly permits selling BTC (bearish supply risk) while also describing measures to increase BTC per share and reduce convertible debt (bullish balance-sheet defense). Strategy holds ~818,334 BTC (~4% of supply), a concrete holding size that could move markets; despite the announcement, bitcoin rose ~2.3% intraday to above $82,800, indicating limited immediate market reaction.