Strategy, known as the largest corporate holder of bitcoins, is considering the possibility of partially selling its cryptocurrency portfolio to meet dividend obligations. This information was shared by the company’s co-founder Michael Saylor during the first quarter 2026 earnings conference.
This is reported by Finway
Reasons for the possible sale of bitcoins
Michael Saylor emphasized that the company may abandon its unconditional bitcoin accumulation strategy and sell assets if it proves beneficial for the business. In his view, moving away from the strict position of “never selling” will enhance asset management flexibility and help increase the asset value per share.
“We will sell bitcoins when it is advantageous for the company. We do not plan to just sit back and say: ‘We will never do this.’ Yes, we want to be a pure bitcoin accumulator, constantly replenishing its portfolio. But, more importantly, we also want to increase the asset value per share.”
Saylor stressed that if the company succumbed to the pressure of skeptics and agreed to never sell bitcoins, it could harm its future. He also compared the situation to investors who spend part of their capital to gain even greater profits, noting that this does not negatively impact the financial health of the company or the market.
According to Saylor, selling bitcoins worth around $100 million would not only not harm Strategy’s business model but could also positively impact the market by demonstrating its resilience. Additionally, he noted that part of the bitcoins could be sold for dividend payments and, as he put it, for the “vaccination” of the market.
Financial results and market reaction
Strategy ended the first quarter of 2026 with an unrealized loss of $14.46 billion and a net loss of $12.54 billion. At the beginning of May, the company’s portfolio consisted of 818,334 BTC with an average purchase price of $75,537 per coin.
The annual amount of the company’s dividend obligations, including interest and payments on preferred shares, reaches about $1.5 billion. The current reserve, which stood at $2.2 billion at the end of 2025, will be sufficient for approximately 18 months to cover these expenses.
After the quarterly results were released and Saylor’s public statements, the price of the company’s Class A shares (MSTR) fell by more than 4%. The quotes dropped to $178.86 after the close of trading on May 5.
It is worth noting that Saylor’s current position regarding the potential sale of bitcoins contradicts his previous statements, in which he claimed that the company would not sell crypto assets even during periods of market volatility. The new CEO of Strategy, Fong Le, also assures the financial stability of the company, stating that serious problems could only arise in the event of a sharp and prolonged drop in the price of bitcoin to $8,000.
Additionally, Strategy has created a reserve fund for dividend payments, allowing the company to maintain financial stability even in challenging market conditions.
At the same time, the company continues to develop its preferred shares STRC with a floating dividend rate, relying on the growth of bitcoin’s value. These instruments are part of a large-scale strategy to create a digital credit based on bitcoin, allowing Strategy to position itself as a next-generation financial platform.
Saylor’s statements have sparked mixed reactions in the cryptocurrency community. Some traders believe that even a small sale of bitcoins could change the established narrative regarding the company’s long-term strategy and affect the future development of the market. In particular, trader EllioTrades noted:
“The market perceived Strategy as a one-way black hole that absorbs bitcoin supply. Until investors stopped buying shares. Then it raised the stakes using STRC. […] Many traders believed that this Saylor had found a bug with infinite money and could buy bitcoins forever, raising the price and issuing more STRC. This is not the case,” said trader EllioTrades.
According to some market participants, changes in the company’s strategy could affect the dynamics of bitcoin’s price, especially during a period when the market is trying to overcome a downward trend.