JPMorgan warns Strategy's bitcoin sales policy creates two-way market risk

JPMorgan has raised concerns about Strategy's policy of selling bitcoin to raise funds, warning it introduces unnecessary uncertainty into crypto markets. The bank argued that this approach creates two-way risk, meaning it could pressure prices in either direction. JPMorgan suggested that Strategy should instead rely on equity issuance as a means of building cash reserves. The bank's position implies that selling bitcoin holdings is an avoidable source of market volatility that could be mitigated through alternative financing methods.