Michael Saylor has provided additional context regarding Strategy’s Bitcoin policy, addressing concerns that arose after his statements hinted at potential Bitcoin sales. The company’s co-founder emphasized that his famous mantra of never selling Bitcoin was not entirely accurate when describing the firm’s actual strategy. Instead, Saylor clarified that the core principle is to avoid becoming a net seller of Bitcoin over time.
Saylor explained that any sale of Bitcoin would not signal a departure from the company’s treasury plan. He argued that limited sales could actually support a larger acquisition strategy, stating that selling one Bitcoin could enable the purchase of ten to twenty more. This approach allows Strategy to maintain its overall accumulation trajectory while generating liquidity when needed.
The latest disclosure shows that Strategy holds 818,334 Bitcoin, acquired at an average price of $75,537. The company also reported a net loss of $12.54 billion for the first quarter of 2026. Additionally, Strategy’s preferred stock products carry dividend obligations of approximately $1.5 billion annually, which has sparked discussions about whether Bitcoin sales might be necessary to meet these payments.
Peter Schiff has once again criticized Strategy’s Bitcoin-centric model, warning of potential stress if Bitcoin prices decline or dividend demands increase. However, Saylor dismissed these concerns, arguing that critics who do not view Bitcoin as digital capital will likely reject any financial instruments based on it. He reiterated that Bitcoin remains the firm’s primary treasury asset, even if selective sales become part of its funding strategy.