Bitcoin Treasury Strategy Shifts as Michael Saylor Reveals When Strategy Could Sell BTC

Michael Saylor has spent years telling investors to “never sell your Bitcoin,” but during a recent appearance on The Wolf Of All Streets Podcast at Consensus Miami, the Strategy chairman explained why the company may occasionally sell portions of its Bitcoin holdings.

Strategy currently holds around 818,000 BTC worth nearly $65 billion, making it the world’s largest corporate Bitcoin holder. However, Saylor said showing a willingness to sell small amounts of Bitcoin is important for protecting the company’s balance sheet and preserving Bitcoin’s role as a liquid corporate asset.

“If the market thought we would never sell it, the credit rating agencies would say, ‘Well, then I guess it’s not an asset,’” Saylor explained during the interview.

Why Strategy May Sell Bitcoin

According to Saylor, Bitcoin gives Strategy access to between $20 billion and $100 billion in market liquidity that is independent of equity or debt markets. He said refusing to ever use that liquidity could actually weaken the company’s financial structure.

Saylor clarified that Strategy would only sell very small portions of Bitcoin tactically. “We might sell 20 basis points of Bitcoin,” he said, adding that the company would likely buy back five to ten times more BTC within the same month.

“If you sell $100 million of Bitcoin in the same month that you buy $1 billion or $2 billion of Bitcoin, we’re still net buyers,” Saylor said.

He also explained that occasional Bitcoin sales could help the Strategy fund STRC dividends or unlock billions in tax credits tied to higher-cost Bitcoin purchases.

Meanwhile, Strategy CEO Phong Le told CNBC the company would only sell Bitcoin when doing so becomes “more accretive to shareholders” than issuing additional stock.

STRC and Yield Coins Enter Hypergrowth

A major part of the discussion focused on STRC, Strategy’s preferred share product, which Saylor said has grown from zero to $8.5 billion in just eight months.

According to Saylor, DeFi platforms are already tokenizing STRC into yield-generating digital assets, while projects like Apex and Saturn are reportedly attracting millions of dollars in inflows daily.

Saylor believes digital yield products could become a multi-billion-dollar industry within months as investors move away from low-yield stablecoins and traditional money markets.

“The bottom line is we’re in a hypergrowth stage,” Saylor said.

Bitcoin Treasury Companies Face Market Pressure

Saylor’s comments come as several Bitcoin treasury firms and miners have recently sold BTC during the broader crypto downturn.

Public miners, including MARA Holdings, Riot Platforms, and Core Scientific, sold more than 32,000 BTC during Q1 2026 to help finance AI and high-performance computing expansion.

Meanwhile, smaller Strategy-style treasury firms like Nakamoto, Empery Digital, and Sequans were forced to sell portions of their Bitcoin holdings after BTC plunged nearly 50% from its all-time high near $126,000.

Saylor also addressed long-term Bitcoin accumulation directly during the interview.

“I’m buying the top forever,” he said. “I’ll be happy to buy at $200,000, $1 million, $2 million, even $16 million per Bitcoin.”