Adam Back: Strategy sells Bitcoin for dividend, no bearish signal

Blockstream CEO Adam Back responds to criticism surrounding the recent Bitcoin sale by Strategy. In an interview with Bloomberg, Back states that the fuss over the sale of 32 Bitcoin to pay preferred stock dividends is exaggerated. According to him, the move actually shows that Strategy is able to meet its obligations to investors without abandoning its Bitcoin strategy.

Bitcoin is available at OKX and Bybit.

Sale of Bitcoin as a Sign of Strength

Back explains in the Bloomberg interview that with the sale of a small amount of Bitcoin, Strategy actually demonstrates that the company can reduce its leverage while simultaneously meeting investor obligations. According to him, that is not a cause for concern but rather evidence that Strategy’s Bitcoin treasury strategy is working as intended.

The Bitcoin investment of Strategy has been in the spotlight for some time. Critics wonder whether the obligations surrounding the preferred stocks pose a risk to the company’s substantial Bitcoin reserves. Back dismisses those concerns and indicates that the market is misreading this signal.

Bitcoin Price and Broader Market Context

At the time of the interview, the Bitcoin price stands at $64K, an increase of 0.9% in the past 24 hours. The market is in a period of correction, with long-term holders remaining relatively calm despite the pressure on the price.

Back speaks at the Proof of Talk conference in Paris at a time when there are also broader concerns about institutional participation in Bitcoin. For instance, Bitcoin ETFs are experiencing their worst year ever with a total outflow of 67,681 BTC in 2026. Yet Back remains optimistic about the fundamentals of Bitcoin as a reserve asset for companies like Strategy.