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Strategy Chairman Michael Saylor reaffirmed the company’s commitment to accumulating bitcoin, even as questions have been raised about the possibility of occasional sales. In interviews over the weekend, Saylor said any bitcoin sold would be replaced by substantially larger purchases.
The remarks followed Strategy’s earnings call last week, when Saylor acknowledged the firm could tap its bitcoin reserves to fund dividends. The STRC perpetual preferred stock program was cited as the likely mechanism behind any such move.
During a weekend podcast interview, Saylor directly addressed concerns that Strategy could become a net seller of bitcoin. When asked about liquidating holdings, he said: “In these periods, even if we were to sell one bitcoin, we’d be buying 10 to 20 more bitcoin,” emphasizing that purchases would outpace sales by a wide margin.
Saylor also reiterated his long-standing view on holding bitcoin over the long term, saying spending bitcoin is acceptable only if the position is promptly replenished. 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.”
On Sunday, Saylor posted on X: “Back to work. BTC.” Analysts and investors have previously treated similar weekend posts as early signals of bitcoin purchases announced in the following week.
Strategy currently holds 818,334 BTC, worth roughly $66.2 billion. JPMorgan analysts said last week that the firm’s buying pace could approach $30 billion this year if sustained, placing Strategy among the most active institutional bitcoin accumulators.
In a CNBC interview on Friday, Strategy CEO Phong Le addressed the possibility of bitcoin sales from a shareholder-value perspective rather than ideology. Asked whether principle would prevent selling, Le said: “I believe in math over ideology.”
Le explained that selling bitcoin to fund STRC dividends would occur only when it is “more accretive to our shareholders” on a bitcoin-per-share basis. He said the deciding factor is whether selling bitcoin improves bitcoin-per-share accretion more than an equity sale would.
Le also used X on Sunday to discuss Strategy’s broader business identity, writing that the company’s success is rooted in “more than bitcoin” on its balance sheet. He pointed to the software and AI business as an expanding source of value.
Le said the first quarter of 2026 marked the segment’s strongest performance in the past decade, with revenue rising 12%. He also referenced an AI data foundation called “Mosaic,” designed to provide an AI-driven semantic layer for enterprise data.
Looking ahead, Le wrote: “Over the next year, I expect we will automate many core workflows and replace much of our internal enterprise software.”
Strategy’s Nasdaq-listed shares recently closed up 4.31% at $187.59, gaining 41.7% over the past month.
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