Strategy Chairman Michael Saylor said the company will always be a net accumulator of bitcoin, even as it considers selling portions of its holdings to fund dividends for its STRC perpetual preferred stock program.
In a podcast interview released over the weekend, Saylor addressed concerns about the firm’s willingness to sell bitcoin, saying:
“In these periods, even if we were to sell one bitcoin, we’d be buying 10 to 20 more bitcoin. You should be a net accumulator of bitcoin. When I said ‘never sell your bitcoin,’ I mean make sure if you were to spend it on something, you replenish in the time you spend it.”
He added:
“You don’t want to be a net seller of bitcoin because bitcoin is capital. You want to end every year with more bitcoin than you started the year.”
When to sell
The comments followed Strategy’s earnings call last week, during which Saylor said the firm has the flexibility to pause sales of MSTR common stock and instead fund dividends through bitcoin sales — while still growing its overall BTC position.
In a separate CNBC interview on Friday, Strategy CEO Phong Le said the company would consider selling bitcoin to fund STRC dividends when doing so is more beneficial to shareholders on a bitcoin-per-share basis.
Le stated:
“I believe in math over ideology. And at the point where selling bitcoin versus selling equity to pay a dividend is better for our bitcoin-per-share, and for our common shareholders, we will do it.”
Meanwhile, Saylor posted “Back to work. BTC.” on X Sunday — a pattern that has historically preceded new purchases the following week.
Holdings and buying pace
Strategy currently holds 818,334 BTC, worth roughly $66.2 billion.
JPMorgan analysts said last week that Strategy’s bitcoin buying could reach around $30 billion this year if the current pace continues.
Strategy’s Nasdaq-listed shares closed up 4.31% at $187.59, gaining 41.7% over the past month, though the stock remains down 18.9% over the past six months.
Software business
Also on Sunday, Le said Strategy’s success is rooted in more than just bitcoin on its balance sheet, pointing to growing momentum in its software and AI business.
He noted that Q1 2026 was the strongest quarter for the company’s software business in the past decade, with revenue rising 12%.
Le said the company has built an AI data foundation called “Mosaic,” which provides an AI-driven semantic layer for enterprise data, and that he expects many core workflows to be automated over the next year.
