Updated

Updated · TradingView · Jul 3

Strategy Authorizes $1.25 Billion Bitcoin Sales as 847,363-BTC Holder Shifts From Never Sell

Updated

Updated · TradingView · Jul 3

Strategy Authorizes $1.25 Billion Bitcoin Sales as 847,363-BTC Holder Shifts From Never Sell

Q: If transaction fees are just 0.5% of miner income, is Bitcoin's long-term security model actually broken?

No. A 0.5% fee share does not mean Bitcoin’s security model is broken today, but it does expose the long-term challenge the model must eventually solve. Right now, Bitcoin miners are still paid overwhelmingly by the block subsidy. After the 2024 halving, miners receive 3.125 BTC per block, or roughly 450 BTC a day network-wide, while reported daily fees in April 2026 were about 2.4 BTC. That is indeed around 0.5% of miner revenue on that snapshot. In other words, the network is still being secured mainly by newly issued bitcoin, not fees. That is not a design failure in the present. Bitcoin was built to transition gradually from subsidy-funded security to fee-funded security over many decades, with the subsidy not disappearing until around 2140. Fidelity Digital Assets argues that rising bitcoin prices, periodic fee spikes, and market incentives can keep mining profitable through that transition, and miner revenue in dollar terms has risen over time despite halvings. The real issue is not whether fees are tiny now, but whether they will be large enough later. If fees were still only a negligible share when the subsidy becomes small, then security would weaken because miners would have less incentive to commit hashpower. That could lower the cost of attacking the network. So the model is not broken today. But the current fee level shows Bitcoin has not yet proved that a fee-only security budget will be strong enough in the distant future.

3 articles · Updated · TradingView · Jul 3

$1.25 billion in potential Bitcoin sales will fund higher dividends, cash reserves and stock buybacks under Strategy’s new Digital Credit Capital Framework.
The plan lifts the annual dividend on STRC preferred stock to 12% from 11.5% and formalizes Bitcoin monetization, marking a break from Michael Saylor’s long-standing “never sell” stance.
At current prices, the authorization could translate to roughly 21,000 BTC, though Strategy said it sold only 32 BTC in June and made no Bitcoin purchases last week.
Strategy’s cash reserve has reached $2.55 billion—enough to cover about 17 months of preferred dividends and interest payments—showing a stronger focus on liquidity alongside long-term Bitcoin accumulation.

Sources

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10 Sources

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If transaction fees are just 0.5% of miner income, is Bitcoin's long-term security model actually broken?

Strategy Inc. Authorizes $1.25 Billion Bitcoin Sale: A New Era in Corporate Crypto Capital Management

Overview

In June 2026, Strategy Inc. (formerly MicroStrategy) made a major shift in its Bitcoin strategy by authorizing the sale of up to $1.25 billion in Bitcoin. This move came after a sharp decline in the company’s share price over the past year and growing investor concerns about its financial direction. By allowing Bitcoin sales, Strategy Inc. aims to enhance its financial flexibility and calm investor jitters. The new approach marks a departure from simply accumulating Bitcoin, focusing instead on active capital management to address market doubts and support the company’s long-term stability.

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