Michael Saylor made headlines today. During Strategy’s Q1 2026 earnings call, he hinted that the company may sell a portion of its BTC holdings to fund dividends, something that directly challenges its long-standing “never sell” stance.
He stated, “We will probably sell some bitcoin to pay a dividend just to inoculate the market and send the message that we did it. Real estate development companies literally exist to buy land cheap and sell it expensively. We’re like a bitcoin development company.”
Saylor said the move isn’t forced but strategic, aimed at “inoculating the market” by showing Bitcoin can be used as a treasury asset, not just a store of value.
MicroStrategy (now Strategy) reported a massive $12.54 billion net loss, even while holding 818,334 BTC at an average price of $75,537. Alongside this, the firm faces about $1.5 billion in annual dividend and debt obligations, with roughly 18 months of coverage in reserves.
The quarter also saw a $2.2 billion valuation allowance tied to unrealized Bitcoin losses and a $7.2 billion drop in digital asset value as BTC fell 23%. Despite this, the company still bought 89,599 BTC, doubling down on its long-term conviction.
Markets reacted quickly. Strategy stock dropped over 4% after hours, while Bitcoin briefly slipped below $81,000. The reaction reflects a deeper tension; any hint of selling shakes the core narrative that built Strategy’s identity.
History shows this isn’t entirely new. The firm sold 704 BTC in December 2022 during market stress, and similar fears surfaced in 2025 when discussions around selling coincided with price weakness.
Strategy’s CEO Phong Le reinforced the shift, saying: “Our ability to sell bitcoin either to buy U.S. dollars or sell bitcoin to buy debt if it’s accretive to bitcoin per share is something that we would consider doing going forward. We will sell bitcoin when it’s advantageous to the company. We’re not going to sit back and just say, ‘We’ll never sell the bitcoin.’
MARA Holdings, Core Scientific, and Cipher Mining are all moving toward active treasury strategies, selling BTC to fund AI and infrastructure growth. Even Druk Holding and Investments has reduced holdings for national spending.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Chainlink continues to stand out as one of the fundamentally strongest projects in the crypto…
Ondo Finance announced the unexpected death of founder Nathan Allman, calling him a key force…
Hyperliquid has introduced canonical prediction markets tied to offchain events, allowing users to trade on…
Crypto scammers have stolen at least $400,000 through fake Uniswap Google ads that redirected users…
After facing repeated rejections from a crucial resistance zone, the XRP price has continued to…
Ethereum may still be the second-largest crypto network in the industry, but according to Dragonfly…
